Delek Group units, Alon Gas to raise NIS 2b bond in US

The Petroleum Council has let the companies place a lien on their Tamar rights.

Delek Group Ltd. (TASE: DLEKG) and Alon Natural Gas Exploration Ltd. (TASE: ALGS) will raise a NIS 1.8-2 billion bond at the end of April from institutional investors in the US. The plan was announced after the petroleum council yesterday gave approval to Delek Group's energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) and Alon Gas to place a lien on their rights to the Tamar field.

This will be the largest-ever offering of its kind by Israeli companies in the US.

The offering will be led by JP Morgan, HSBC and Citi.

Published by Globes [online], Israel business news - www.globes-online.com - on April 8, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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