Ithaca extends USD 1.80 billion facility, supporting Delek stock

Published on 10/16/2026 at 10:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The amendment extends maturity to December 31, 2032. Delek stock's Q2 revenue was ILS 4.40 billion, with results due November 25, 2026.

Financing and reporting dates

Ithaca amended its USD 1.80 billion facility on October 12, 2026.
Delek Group reported ILS 4.40 billion in second-quarter revenue for 2026.
Delek Group is scheduled to report its next results on November 25, 2026.

Delek, IL0010841281, Illustration mit AI erstellt.

Delek Group (ISIN IL0010841281) is tied to Ithaca Energy's USD 1.80 billion reserve-based lending facility, which was amended on October 12, 2026. TradingView reported that the agreement extends final maturity to December 31, 2032 and allows up to USD 1.00 billion of additional commitments. The financing matters because Delek owns a 50.5 percent stake in Ithaca Energy.

Canada deal adds production scale

The financing follows Ithaca's October 5, 2026 agreement to buy offshore Canadian assets from Suncor Energy for USD 860.00 million, with up to USD 250.00 million of contingent consideration. TradingView reported that the assets are expected to add average production of 30,000 barrels of oil equivalent per day between 2027 and 2031. The transaction is targeted for completion in the first half of 2027 and remains subject to regulatory approvals.

The facility itself comprises a USD 1.30 billion loan facility and a USD 500.00 million letter-of-credit facility. The amendment also improves pricing terms, extends liquidity and increases the possible accordion capacity from the existing structure.

What does the financing change?

Delek's latest operating figures provide a scale reference. The investor-relations page reports group revenue of ILS 4.40 billion and net profit attributable to shareholders of ILS 314.00 million for the second quarter of 2026, while average combined Ithaca and NewMed production reached 96,000 barrels of oil equivalent per day. Delek Group also lists ILS 500.00 million of dividends paid in that quarter. The figures show why access to borrowing capacity is central to the group's expansion strategy.

Which dates matter next?

The chronology runs from the June 30, 2026 second-quarter reporting period with ILS 4.40 billion of revenue, to the October 5, 2026 Canada acquisition at USD 860.00 million, and finally the October 12, 2026 financing amendment at USD 1.80 billion. The next reporting date is November 25, 2026, according to Investing.com. Completion of the Canadian transaction is targeted for the first half of 2027, according to TradingView.

Delek stock stays tied to Ithaca

Delek Group was trading at ILA 8,325.00 on the Tel Aviv Stock Exchange on October 16, 2026 at 11:40 a.m. IDT. Its 52-week range was ILA 7,424.00 to ILA 12,177.00, while market capitalization stood at ILA 15.1 billion.