Delek Drilling, Avner Oil Finish Institutional Stage Of Bond Offering

Reuters

JERUSALEM, Dec 22 (Reuters) - Israel's Delek Drilling and Avner Oil, partners in the offshore Tamar and Leviathan gas fields, said on Thursday they completed the institutional stage of a dollar bond offering in Israel.

The companies said in a statement they recorded demand of around 3.2 billion shekels ($836 million) - more than double the offering target of about $400 million - making it the largest dollar bond offering on the Tel Aviv Stock Exchange.

Delek Drilling and Avner Oil are subsidiaries of Israeli conglomerate Delek Group.

The public tender stage will be completed in the coming days.

Funds raised will help the companies develop Leviathan field and expand production of the Tamar project, they said.

(Reporting by Ari Rabinovitch)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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