Herzog Fox & Neeman, together with the London office of Shearman and Sterling, represented a consortium of local and international lenders, led by Bank Hapoalim, Morgan Stanley, Natixis and Société Générale, in connection with the USD 1.250 billion financing to Energean Israel for the development of the Karish and Tanin gas fields in Israel.

Energean Israel purchased the leasehold interests in the Karish and Tanin gas fields in Israel from Noble Energy and the Delek Group as part of the National Gas Framework. In addition to the debt financing, Energean Israel will invest USD 400-500 million in equity for the project, which will be developed and constructed in partnership with Technip FMC and Stena Drilling.

The Herzog Fox & Neeman team was led by Herzog Fox & Neeman’s Head of Project Finance, Mark Phillips along with Project Finance partner Zara Gold and associate, Yarden Lennox.

To read more about this deal (in Hebrew) – click here.