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.
Recommended Reading
Investment Trends: Family Offices, PE Bet Big on NatGas
2025-07-10 - From shale’s boom to today’s consolidation wave, Stephens' Keith Behrens discusses disciplined capital, M&A drivers and why long-term investors are shifting toward gas-focused plays.
E&P Pricing Models Factor in Volatility, Says BOK Expert
2025-07-10 - Integrating global volatility into pricing models means cleaner balance sheets with improved leverage and room to deploy capital creatively, says BOK Financial’s Mari Salazar.
Ex-Elliott Insider: Speak First or ‘Chaos’ Will Take the Mic
2025-07-08 - Proactive communication is essential in warding off activist “agents of chaos” that want to “change the fabric of a company,” a former communications officer at activist investor Elliott Investment Management told oil and gas producers.
BP Appoints Former Shell Exec Simon Henry to Board
2025-07-07 - BP named Simon Henry, who was previously the CFO at Shell, as a non-executive director, days after reports of a potential merger with Shell.
Exxon Returns Some Stabroek Acreage to Guyana, Government Says
2025-07-03 - An Exxon Mobil-led oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.