Brentwood, UK â Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics"), alongside subsidiary Delek Logistics Finance Corp. (collectively, the "Issuers"), has announced plans to issue an additional £80 million in aggregate principal amount of 8.625% senior notes due 2029. These "Additional Notes" will be offered in a private placement to eligible investors, subject to market conditions.
The Additional Notes will be issued under the same terms as the existing £520 million in aggregate principal amount of 8.625% senior notes due 2029, issued by the Issuers on 13 March 2024 and 12 April 2024, forming part of the same series.
Delek Logistics intends to utilise the net proceeds from the offering to partially repay outstanding borrowings under its revolving credit facility.
The Additional Notes will be offered exclusively to qualified institutional buyers in accordance with Rule 144A and to non-UK persons outside the UK, complying with Regulation S, both under the Securities Act of 1933. Importantly, the Additional Notes and related guarantees have not been registered under the Securities Act or any UK securities laws. As a result, they cannot be offered or sold within the UK without registration or an applicable exemption from the registration requirements.
This press release is issued pursuant to Rule 135c under the Securities Act and should not be considered an offer to sell or a solicitation of an offer to buy the Additional Notes or any other securities. Furthermore, it does not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Additional Notes or any other securities in any jurisdiction where such offer, solicitation or sale is unlawful.
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership based in Brentwood, Tennessee. The company, through its owned assets and joint ventures primarily located in and around the Permian Basin, the Delaware Basin and other selected areas in the Gulf Coast region, provides gathering, pipeline, transportation, and other services for its customers in crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling, water disposal and recycling.
Delek US Holdings, Inc. (NYSE: DK) holds the general partner interest and a majority limited partner interest in Delek Logistics, also acting as a significant customer.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding the offering and the anticipated use of the net proceeds. Such statements may use terms like "possible," "believe," "should," "could," "would," "predict," "plan," "estimate," "intend," "may," "anticipate," "will," "if," "expect" or similar expressions. They are made as of the date they were first issued and are based on current expectations, estimates, forecasts and projections, as well as management's beliefs and assumptions.
Forward-looking statements are inherently subject to various risks and uncertainties, many of which are beyond Delek Logistics' control. Delek Logistics' actual results may differ materially from those stated or implied in forward-looking statements due to numerous factors, including, but not limited to, market risks and uncertainties, including those affecting the offering, and the impact of any natural disasters or public health emergencies.
These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Delek Logistics' filings and reports with the Securities and Exchange Commission (âSECâ), including the Annual Report on Form 10-K for the year ended December 31, 2023 and other reports and filings with the SEC.
Investor Relations and Media/Public Affairs Contact: investor.relations@delekus.com
