Delek Said to Start Roadshow for $1.1 Billion Gas IPO Next Week - BLOOMBERG

Thursday, June 22, 2017Yaacov Benmeleh

(Bloomberg) -- Delek Group Ltd. will start a roadshow next week to sell a stake in a $12.3 billion natural gas field off Israel’s shores, according to a person familiar with the matter.

Israel’s biggest energy company, controlled by billionaire Yitzhack Teshuva, will meet with investors in Tel Aviv, London and the U.S. for the planned initial public offering of Tamar Petroleum, a special purpose vehicle that owns 9.25 percent of the Tamar gas reservoir, the person said, asking not to be identified because the information isn’t public.

Israel's Ratio secures $400 mln to fund Leviathan natgas project - REUTERS

JERUSALEM (Reuters), Tue Mar 21, 2017 | 8:02am EDTAri Rabinovitch

Ratio Oil said on Tuesday it has secured up to $400 million to finance its share in the development of the large Leviathan natural gas field offshore Israel.

Ratio holds a 15 percent stake in Leviathan, together with Israel's Delek Group, which has a 45.34 percent share and operator Noble Energy, which holds a 39.66 percent stake.

The partners have approved a first-phase budget of $3.75 billion dollars.

Ratio said it signed financing agreements with a consortium of local and foreign groups, including HSBC and BNP Paribas. 

Leviathan partners raise $1.75b from international lenders - JERUSALEM POST

February 21, 2017 17:30 

Sharon Udasin

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Pank Plc.

In a key step toward furnishing Israel and its neighbors with a robust natural-gas supply, the Leviathan reservoir partners have secured $1.75 billion in loans for the basin’s development.

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Bank PLC, according to a report submitted to the Tel Aviv Stock Exchange on Tuesday morning. The funds are expected to support the A1 development stage of the Leviathan project.

Signing of an Agreement for the Financing of the Delek Group Partnerships’ Share in the Costs of Development of the Leviathan Project - DELEK GROUP

Tel Aviv, February 21, 2017. 

Delek Group (TASE: DLEKG, US ADR: DGRLY) ("the Company") announces that further to immediate report dated November 27, 2016 (Ref No. 2016-01-132058), with regard to a signature of a Commitment Letter for the signing of a financing agreement, the Compnay provides below an Immediate Report submitted by each of Delek Drilling - Limited Partnership and Avner Oil Exploration - Limited Partnership (jointly the 'Partnerships'), concerning signature of a Commitment Letter for the signing of a financing agreement for limited recourse project financing of the Partnerships' share in the development of the Leviathan project.

Development of Leviathan Field to Produce Natural Gas by End of 2019 - DELEK GROUP

Tel Aviv, December 12, 2016

Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) provides below an Immediate Report published by each of Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership ("the Partnerships") concerning the decisions taken for development of the Leviathan Field in order to produce natural gas by the end of 2019.

Pursuant to what was stated in the Partnerships' Annual Reports dated December 31, 2015 that were published on March 28, 2016 ("the Annual Reports") concerning the updated development plan for the Leviathan Field ("the Development Plan"), and having received the regulatory approvals and progress in the technical agreements concerning development of the Leviathan Field, including approval of the Development Plan by the Petroleum Commissioner at the Ministry of National Infrastructures, Energy and Water Resources, as stated in the Immediate Report dated June 2, 2016, 

entering into an agreement to receive Front End Engineering Design (FEED) services for the production platform as approved in the Development Plan, as stated in the Immediate Report dated June 22, 2016, 

Israeli Leviathan Partners Get Up to $1.75 Billion HSBC, JPMorgan Financing - HAARETZ / REUTERS

Nov 27, 2016 6:22 PM

Delek Drilling and Avner Oil Exploration said the funds would go towards the A1 development stage of the project.

The main Israeli partners developing the large Leviathan natural gas site said on Sunday they signed commitment letters with HSBC and J.P. Morgan for up to $1.75 billion of financing.

Delek Drilling and Avner Oil Exploration said the funds would go towards the A1 development stage of the project.

Delek and Avner, units of conglomerate Delek Group, hold a combined 45.3 percent of Leviathan. Texas-based Noble Energy owns nearly 40 percent.