Tamar Petroleum Ltd., completed the private placement of 4.69% bonds, for gross proceeds of $650 million. The bonds were subscribed to by institutional investors. The company intends to list the bonds on Tel Aviv Stock Exchange, following the completion of initial public offering of shares which was announced on June 21, 2017. The company intends to use the proceeds from the placement for the acquisition of the partnership's rights in the Tamar and Dalit Leases. On July 5, 2017, Tamar Petroleum agreed to issue bonds with maximum interest rate of 5.7%, for gross proceeds of $650 million.