Delek & Avner talk $2bn with Israel Electric as guide

Delek & Avner — the financing vehicle for Delek Drilling LP and Avner Oil Exploration LP — has released initial price thoughts on the $2bn five tranche bond it is raising to fund the operation of its Israeli Tamar gas field. The initial pricing thoughts offer spreads inside Israel Electric on the short end and wide to it on the long end. Israel Electric is Tamar's biggest customer.