The bonds are guaranteed by a lien on the gas from the Leviathan offshore field in which Delek Drilling has a 45.34% stake.
The share price of the Israeli photovoltaics company has doubled over the past seven months.
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise by NIS 0.01 to NIS 5.45 per liter on Saturday night, August 2.
The offering is led by JP Morgan and HSBC internationally, and by Leader, Value Base and Barak Capital in Israel.
Rami Levy has teamed with Lahav LR Real Estate to join the race to buy the Delek gas station chain.
Market sources say that the first-ever oil major to come here would not have acquired Noble Energy without Israel's improved relations with the Gulf states.
Asa Levinger leads Energix, a green energy company now worth four times as much as natural gas company Delek.