Davis Polk advised Delek Overriding Royalty Leviathan Ltd., on its Rule 144A offering of $180 million principal amount of 7.494% senior secured notes due 2023. The notes are secured by certain natural gas royalty rights related to production at the Leviathan gas field. 

Delek Drilling is one of Israel’s leading integrated energy companies, is a pioneering leader in natural gas exploration and production activities in the Eastern Mediterranean’s Levant Basin. 

The Davis Polk capital markets team included partner Reuven B. Young and associates Paula Querol and Tanu Sinha. The Davis Polk finance team included partner Meyer C. Dworkin and associates Jason Palios, Christina C. Bell and Tom Wolfe. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Members of the Davis Polk team are based in the London, Madrid and New York offices.