News

(RTTNews) - Delek Logistics Partners, LP (DKL) announced the pricing of underwritten public offering of 3.12 million common units representing limited partner interests in Delek Logistics at $38.50 per unit. The offering is expected to settle and close on March 12, 2024

Delek Logistics has granted the underwriters a 30-day option to buy up to 467,532 additional common units.

Delek Logistics intends to use offering net proceeds, including any net proceeds from the underwriters' exercise of their option to purchase additional common units, to repay outstanding borrowings under its revolving credit agreement.

The company stated that none of the common units offered in the offering will be purchased by Delek US Holdings, Inc.

As a result, Delek Holdings' ownership of the outstanding Delek Logistics common units will decline from 78.7% prior to the offering to approximately 73.4% after the offering.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.