Delek Logistics plans $800 million senior notes offering

Delek Logistics Partners, LP (NYSE: DKL) announced plans to offer $800 million in senior notes due 2034 through a private placement to eligible purchasers, subject to market conditions.

The midstream energy master limited partnership intends to use proceeds from the offering to repurchase all outstanding 7.125% Senior Notes due 2028 through a concurrent tender offer or redemption. The company also plans to redeem a portion of its 8.625% Senior Notes due 2029 and pay related premiums, fees and expenses. Any remaining proceeds will be used for general corporate purposes.

The notes will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act of 1933. The securities have not been registered under federal or state securities laws.

Delek Logistics, headquartered in Brentwood, Tennessee, operates midstream energy assets primarily in the Permian Basin, Delaware Basin and Gulf Coast region. The company provides gathering, pipeline and transportation services for crude oil and natural gas, along with storage and terminalling services for refined products and water disposal services.

Delek US Holdings, Inc. owns the general partner interest and a majority limited partner interest in Delek Logistics, and serves as a significant customer.

The announcement was made in a press release statement and does not constitute an offer to sell or solicitation to buy the securities.

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