Loan & DebtMay 15, 2026, 05:32 PM
Delek US Refinances Term Loan to $850M, Extends Maturity, Lowers Rates
AI Summary
Delek US Holdings, Inc. closed an amendment to its Amended and Restated Term Loan Credit Agreement, effectively refinancing its existing term loan facility. This amendment reduced the outstanding principal amount to $850.0 million, extended the maturity to six years, and lowered the interest rate on borrowings. MUFG Bank, Ltd. and U.S. Bank Trust Company, National Association were appointed as the new administrative and collateral agents, respectively.
Key Highlights
- Refinanced existing term loan facility through Amendment No. 1.
- Outstanding term loans reduced to an aggregate principal of $850.0 million.
- Maturity of the facility extended to six years following May 15, 2026.
- Interest rate reduced to term SOFR plus 300 bps or base rate plus 200 bps.
- MUFG Bank, Ltd. appointed as the new administrative agent.
- U.S. Bank Trust Company, National Association appointed as the new collateral agent.
Price Impact
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