Loan & DebtMay 4, 2026, 08:52 AM
Delek Logistics launches tender offer for 2028 notes; offers $800M new notes
AI Summary
Delek Logistics Partners, LP and its subsidiary announced a cash tender offer for any and all of their outstanding 7.125% Senior Notes due 2028, with a tender consideration of $1,001.35 per $1,000 principal amount. Concurrently, the company intends to offer $800 million in aggregate principal amount of new senior notes due 2034 in a private placement. The net proceeds from the new offering are expected to fund the tender offer, redeem a portion of the 8.625% Senior Notes due 2029, and cover related fees and expenses.
Key Highlights
- Delek Logistics launched a cash tender offer for any and all of its outstanding 7.125% Senior Notes due 2028.
- Holders tendering notes will receive $1,001.35 per $1,000 principal amount, plus accrued interest.
- The tender offer expires on May 11, 2026, at 5:00 p.m. New York City time.
- Delek Logistics intends to offer $800 million in new senior notes due 2034 in a private placement.
- Proceeds from the new offering will fund the tender offer and partially redeem 8.625% Senior Notes due 2029.
- The tender offer is contingent upon the consummation of the concurrent bond offering.