Ithaca agrees to amend USD 1.8 billion facility: what it means for Delek stock
Published on 10/13/2026 at 09:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Ithaca Energy agreed an amendment to a USD 1.8 billion reserve based lending facility on October 12, 2026.
- The facility extends final maturity to December 31, 2032 and includes a USD 1.0 billion accordion option.
- Delek Group reported USD 4.4 billion in Q2 2026 revenue and USD 314 million in net profit attributable to shareholders.
- Delek Group trades on the Tel Aviv Stock Exchange under ticker DLEKG and is included in the TA-35 Index.
Delek Group (IL0010841281) is tied to Ithaca Energy's agreement on October 12, 2026, to amend its USD 1.8 billion reserve based lending facility. TradingView reported that the agreement extends final maturity to December 31, 2032 and permits up to USD 1.0 billion of additional commitments.
Liquidity expands through 2032
The facility combines a USD 1.3 billion loan facility with a USD 500.0 million letter of credit facility. Its revised pricing terms and longer maturity are designed to strengthen Ithaca's liquidity profile and give the wider Delek Group more financing flexibility.
The arrangement matters because Ithaca is one of Delek's central energy holdings. The extension gives the subsidiary a longer funding horizon while its parent continues to operate across energy, financial services and real estate.
Canadian growth adds 30,000 barrels
On October 5, 2026, Delek-backed Ithaca agreed to acquire offshore Canadian assets for an initial USD 860.0 million and as much as USD 1.11 billion including contingent consideration, according to CTech.
The acquired portfolio is expected to add 30,000 barrels of oil per day between 2027 and 2031. Ithaca owns 50.5 percent of the business, so the transaction links Delek's growth strategy to both production expansion and additional financing needs.
What does the financing mean?
The financing announcement provides a concrete counterweight to the capital demands of the Canadian purchase. The USD 1.0 billion accordion does not represent drawn debt, but it gives Ithaca room to increase commitments if the facility becomes effective on its stated terms.
Delek's investor-relations page identifies Q2 2026 as the group's latest financial report, with revenue of USD 4.4 billion and net profit attributable to shareholders of USD 314.0 million. The same page reports average combined daily production of 96,000 barrels of oil equivalent and identifies the company as a TASE-listed energy group included in the TA-35 Index.
Three dated milestones
On October 5, 2026, Ithaca announced the Canadian asset purchase for an initial USD 860.0 million, with expected production of 30,000 barrels per day, according to CTech. On October 8, 2026, NewMed Energy and Ratio canceled a USD 6.7 billion gas deal amid approval disputes, as The Jerusalem Post reported. On October 12, 2026, Ithaca agreed the USD 1.8 billion lending-facility amendment, the most recent of the three developments.
Key date and trading reference
The amended facility carries a stated final maturity of December 31, 2032. Delek Group's latest available TASE quote was ILA 7,960.00 on October 13, 2026 at 10:18 a.m. Israel time, while the company's investor-relations page showed market capitalization of ILS 14.4 billion as of October 12, 2026.
The further course of trading is shown by the continuously updated real-time quote of Delek stock.
Delek Group key data
- Company: Delek Group Ltd.
- ISIN: IL0010841281
- Ticker: DLEKG
- Primary exchange: Tel Aviv Stock Exchange
- Price TASE as of October 13, 2026, 10:18 a.m. Israel time: ILA 7,960.00
- Market capitalization: ILS 14.4 billion as of October 12, 2026
- Sector: Energy
- Index membership: TA-35
Market context: Market report TA-35.
