With the oil price on world markets continuing to climb, Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, is on the road to recovery. Investors who had faith in Tshuva have profited from a sharp rise in Delek’s bonds.
Delek’s share price is up 60% since the start of 2021 and up 200% from its low point nearly a year ago. Even so the share is still 75% below its price at the start of 2020.
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Delek’s bondholders have fared better. The various series of bonds have risen between 310% and 525% since a year ago when oil prices collapsed and Delek’s bonds had junk status. Returns on the bonds are within a highly reasonable 10%-18% range.
Published by Globes, Israel business news – en.globes.co.il – on March 9, 2021
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