PBF Energy plans $500 million senior notes offering due 2034

PBF Energy Inc. (NYSE: PBF) announced that its indirect subsidiary, PBF Holding Company LLC, intends to offer $500 million in aggregate principal amount of senior notes due 2034 in a private offering, according to a company statement.

The notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. The offering is subject to market and other conditions, including pricing.

PBF Holding plans to use the net proceeds from the proposed offering and available cash to fund the complete redemption of its outstanding 6.00% Senior Notes due 2028.

The notes will be offered through a private placement and are expected to be resold by initial purchasers to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

The offer will be made only through a private offering memorandum to qualified investors. The notes have not been and will not be registered under the Securities Act or any applicable state securities laws.

PBF Energy operates oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The company describes itself as one of the largest independent refiners in North America and is also a 50% partner in the St. Bernard Renewables joint venture focused on sustainable fuels production.

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