Yitzhak Tshuva breaks records: a massive multi-billion fundraising on the stock exchange

NewMed Energy, the energy company owned by billionaire Yitzhak Tshuva, announced on Thursday that it has completed the institutional stage of a new bond series issuance after receiving massive demand of 2.4 billion shekels.

The partnership's new bond series, totaling approximately 1.751 billion shekels, will be listed for trading on the Tel Aviv Stock Exchange. The bonds will bear an annual interest rate of up to 4.54% and do not include any indexation or liens. The terms include repayment in installments from 2027 until 2034, with a duration of about 5 years.

The proceeds are intended to diversify the partnership's funding sources and support the implementation of NewMed Energy's work plans for the coming years, including the development of the second phase of the Leviathan reservoir, the advancement of the Aphrodite reservoir, which is nearing a final investment decision, and debt repayment.

Niv Sarna, CEO of NewMed Energy, said:

"The results of the institutional tender testify to a clear expression of trust by institutional entities in NewMed Energy and its business strategy. The proceeds from the issuance, combined with the strong cash flow from the Leviathan reservoir, will allow us to continue advancing our development plans for the coming years, including the development of the second phase of Leviathan and the development of Aphrodite, while simultaneously returning investments to investors and maintaining an appropriate leverage level."

Tsahi Havusha, Deputy CEO and CFO of NewMed Energy, stated:

"The success of the fundraising and the high demand recorded during it reflect the capital market's trust in NewMed Energy's financial robustness and its execution capabilities. Today's fundraising strengthens financial flexibility and creates an efficient and balanced capital and debt structure that allows us to generate value for investors over time."