Leviathan Partners to Raise $2 Bn for Field Development

Israel's Delek Drilling and Avner Oil have announced plans to raise up to $2 billion in bonds to help fund Leviathan natural gas field development, reports Reuters citing a press release.

Company has held a road show to attract investors in the United States, Europe and Israel.

Five series of bonds will be issued, each with its own fixed interest rate, and with the longest maturing in 2025, says Reuters. 

Delek Drilling, Avner, Ratio Oil and US based Noble Energy are shareholders in the field. Noble is the operator.  

Australia’s Woodside Petroleum is expected to pick up 30% stake in the field. The stake sale could be another source of funds, however the deal which is worth close to $2.7 billion is held up due to tax disagreement between Woodside and Israel.