Delek Logistics prices $800 million senior notes offering at 6.875% yield

Delek Logistics Partners, LP (NYSE: DKL) priced an offering of $800 million in senior notes due 2034 at a 6.875% interest rate, the company announced. The notes were priced at par value.

The offering is expected to close on May 14, 2026, subject to customary closing conditions. Delek Logistics Finance Corp., a subsidiary of the partnership, is serving as co-issuer of the notes.

The company plans to use proceeds from the offering to repurchase all outstanding 7.125% senior notes due 2028 through a concurrent tender offer or redemption. Additional funds will be used to redeem a portion of outstanding 8.625% senior notes due 2029, pay related premiums and fees, and support general corporate purposes.

In connection with the new note pricing, the issuers issued a conditional notice to redeem $400 million of the 2029 notes on May 14, 2026, at a redemption price of 104.313% of principal amount plus accrued interest. The redemption is contingent upon completion of the new note offering.

The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The securities have not been registered under the Securities Act of 1933.

Delek Logistics is a midstream energy master limited partnership based in Brentwood, Tennessee. The company provides gathering, pipeline and transportation services primarily for crude oil and natural gas, along with storage and terminalling services for refined products. Its operations are concentrated in the Permian Basin, Delaware Basin and Gulf Coast region.

You May Also Be Interested In

• Ligand plans $550M convertible notes offering due 2031
• uniQure reports early data from AMT-260 epilepsy gene therapy trial
• Motorsport Games names Peter Hansen-Chambers as CFO effective July 1