PBF Energy prices $500 million senior notes due 2034 at 7.25% rate

PBF Energy Inc. (NYSE: PBF) announced that its indirect subsidiary PBF Holding Company LLC priced $500 million in aggregate principal amount of 7.25% senior notes due 2034 in a private offering. The offering is expected to close on May 28, 2026, subject to customary closing conditions.

The notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. The company plans to use the net proceeds from the offering and available cash to fund the redemption in full of its outstanding 6.00% senior notes due 2028.

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

On May 26, 2026, PBF Holding and PBF Finance issued a notice of conditional optional full redemption for all $801.6 million of the outstanding 2028 notes at a redemption price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest to the redemption date of June 25, 2026. The redemption is conditioned upon successful completion of one or more debt financings with aggregate gross proceeds of no less than $500 million.

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

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