Loan & DebtMay 5, 2026, 06:08 AM
Delek Logistics Prices $800M Senior Notes Due 2034 at 6.875%
AI Summary
Delek Logistics Partners, LP priced an offering of $800 million in 6.875% senior notes due 2034, expected to close on May 14, 2026. The company intends to use the net proceeds to repurchase all outstanding 7.125% Senior Notes due 2028 and to redeem a portion of its 8.625% Senior Notes due 2029. Concurrently, Delek Logistics issued a conditional notice for the partial redemption of $400 million of the 2029 notes at a price of 104.313% of the principal amount, contingent on the new notes offering.
Key Highlights
- Priced $800 million aggregate principal amount of 6.875% senior notes due 2034 at par.
- Offering expected to close on May 14, 2026.
- Proceeds to repurchase outstanding 7.125% Senior Notes due 2028.
- Proceeds to redeem a portion of 8.625% Senior Notes due 2029.
- Issued conditional notice to redeem $400 million of 8.625% Senior Notes due 2029.
- Redemption price for 2029 Notes is 104.313% of principal amount.
- Partial redemption of 2029 Notes is conditioned upon the consummation of the new notes offering.
Price Impact
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