Tamar Petroleum raises $650 mln in debt to bid for Delek stake

By Staff reporter 7 July 2017

Tamar Petroleum has raised $650 million in a debt offering as part of its bid for Delek Group’s share in the Tamar field offshore Israel, the company said in a statement.

The bonds will begin to trade on the Tel Aviv Stock Exchange from next Thursday.

The divestment is part of Delek’s obligation to sell off its stake in Tamar to meet Israeli competition rules.

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