Mubadala Petroleum has reached financial close on the debt backing its $1.025 billion acquisition of a 22% stake in the Tamar gas field, offshore Israel, from Delek Drilling.The $720 million eight-year facility signed on 09 December 2021 and reached financial close on 15 March 2022. The debt is being provided by HSBC (also financial advisor), Societe Generale, Bank of China, Deutsche Bank, ING Bank, JP Morgan Securities, Natixis, SMBC, Abu Dhabi Commercial Bank, Israel Discount Bank, Mizrahi Tefahot Bank, Bank Hapoalim and Bank Leumi.Under the Gas Framework, outlined by the Government of Israel, Delek Drilling was obliged to sell all of its holdings in Tamar by the end of 2021. Nevertheless, the sale to Mubadala is a direct result of the August 2020 Abraham Accords – the normalisation agreement signed between Israel and the UAE. The other shareholders in Tamar are Chevron (operator, 25%), Isramco (28.75%), Tamar Petroleum (16.75%), Dor Gas (4%) and Everest (3.5%).