Delek presents to repay bonds early, as oil costs soar

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As oil costs hit a seven yr excessive, Israeli oil and fuel exploration and manufacturing firm Delek Group Ltd. (TASE:DLEKG) is searching for the early compensation to bondholders of its 18th and nineteenth collection bonds amounting to NIS 334 million. Delek, managed by Yitzhak Tshuva, additionally desires to supply a voluntary different to bondholders of its thirtieth collection to transform the bonds to new bonds in its thirty fourth collection.







These presents come within the wake of the hovering value of oil on international markets, which has seen Delek’s share value rise by 50% since mid-December, giving the corporate a market cap of greater than NIS 6 billion. Since its low level on the outbreak of the Covid pandemic within the first quarter of 2020, when oil costs collapsed, Dele3k’s share value has risen 540%.

Delek’s important belongings are the Leviathan fuel subject offshore from northern Israel and oil and fuel belongings within the North Sea by way of its absolutely owned Ithaca subsidiary in addition to petroleum refining and different vitality actions by way of Delek US.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on January 30, 2022.

© Copyright of Globes Writer Itonut (1983) Ltd., 2022.


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