Simpson Thacher Represents Goldman Sachs in $180 Million Senior Secured Notes Offering by Delek Overriding Royalty Leviathan
10.29.20
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Simpson Thacher recently represented Goldman Sachs in connection with a Rule 144A/Regulation S offering of $180 million of 7.494% Senior Secured Notes due 2023 by Delek Overriding Royalty Leviathan Ltd., a limited liability company indirectly owned by Delek Group Ltd. (“Delek Group”). The Notes are listed for trading on the system of the Tel Aviv Stock Exchange for trading by institutional investors, and recourse on the Notes is limited to the issuer’s right to receive royalties payable by Delek Drilling Limited Partnership with respect to its interests in the Leviathan natural gas reservoir located in the Mediterranean Sea offshore of Israel.
Delek Group, Israel’s leading integrated energy company, has been a pioneer in natural gas exploration and production activities in the Eastern Mediterranean’s Levant Basin, one of the energy industry’s most promising emerging regions.
The Simpson Thacher team for the transaction included Gil Strauss, Srishti Gupta and Alex Yeagley (Capital Markets); and Meredith Jones and Gal Shemer (Tax).