The offering is expected to close on Aug. 16, subject to customary closing conditions. (Source: Shutterstock)
Midstream MLP Delek Logistics Partners LP and its subsidiary Delek Logistics Finance Corp. are offering $400 million in aggregate principal amount of additional 8.625% senior notes due 2029, according to an Aug. 13 press release.
The issuers’ offering price is 103.25% of the senior notes’ face value, plus accrued interest from March 13, and the aggregate principal amount of the offering was increased from the previously announced offering size of $100 million.
The additional notes are part of the same series as the existing notes, and will be issued under the same indenture as the $650 million in aggregate principal amount of 8.625% senior notes due 2029 issued on March 13 and the additional $200 million of senior notes issued on April 17.
Delek Logistics plans to use the net proceeds from the offering to pay off a portion of its credit facility’s outstanding borrowings.
The offering is expected to close on Aug. 16, subject to customary closing conditions.
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