As oil prices hit a seven year high, Israeli oil and gas exploration and production company Delek Group Ltd. (TASE:DLEKG) is seeking the early repayment to bondholders of its 18th and 19th series bonds amounting to NIS 334 million. Delek, controlled by Yitzhak Tshuva, also wants to offer a voluntary alternative to bondholders of its 30th series to convert the bonds to new bonds in its 34th series. RELATED ARTICLES Delek recovery continues as Q3 profit soars 50% Delek unit Ithaca buys Japan's Marubeni Oil and Gas Delek Drilling to distribute $100m dividend Abu Dhabi's Mubadala buys Delek Drilling's Tamar stake These offers come in the wake of the soaring price of oil on global markets, which has seen Delek's share price rise by 50% since mid-December, giving the company a market cap of more than NIS 6 billion. Since its low point at the outbreak of the Covid pandemic in the first quarter of 2020, when oil prices collapsed, Dele3k's share price has risen 540%. Delek's main assets are the Leviathan gas field offshore from northern Israel and oil and gas assets in the North Sea through its fully owned Ithaca subsidiary as well as petroleum refining and other energy activities through Delek US. Published by Globes, Israel business news - en.globes.co.il - on January 30, 2022. © Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
