Photo: Reuters

Yam Thetis' Israeli partners to get $240M loan

Partners in offshore gas exploration venture given three-year loan, subject to gas sale ratio

The Israeli partners in Yam Thetis' offshore gas exploration venture have been able to secure a $240 million loan to be used to refinance the mortgage on the drilling rights.


The loan was made possible after the main partners in the venture – Avner, Delek Energy and Delek Drilling – cleared their loans on the consortium's venture.


The loan was given for a period of three years, subject to the rate in which the partners would be able to sell the gas.


Once the money will be funneled, the partners will pay a one-time sum equal to 2% of the loan, to pay off the fundraising fee agreed to in their financing agreement.



פרסום ראשון: 06.10.11, 07:46
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