PARSIPPANY, N.J., Oct. 3, 2017 /PRNewswire/ -- PBF Logistics
LP (the "Partnership") (NYSE: PBFX) announced today the pricing of
$175 million in aggregate principal
amount of additional 6.875% Senior Notes due 2023 (the "notes").
This represents an increase of $25
million over the aggregate principal amount previously
announced. The notes will be issued to the public at an
offering price of 102% of the principal amount thereof, plus
accrued interest from May 15, 2017.
The Partnership anticipates that consummation of the offering will
occur on October 6, 2017 and intends
to use the net proceeds from the offering to repay a portion of the
indebtedness outstanding under its revolving credit facility and
for general partnership purposes.
The notes will be issued as additional notes under the indenture
governing the Partnership's 6.875% Senior Notes due 2023 that were
issued on May 12, 2015 (the "existing
notes"). The notes will be treated as a single series with the
existing notes and will have the same terms as those of the
existing notes, except that (i) the notes will be subject to a
separate registration rights agreement and (ii) the notes will be
issued initially under CUSIP numbers different from the existing
notes. Holders who exchange their notes in a future registered
exchange offer will receive registered notes that are expected to
share a single CUSIP number with the existing notes and it is
expected that such notes and the existing notes will thereafter be
fungible.
The notes to be offered and sold have not been registered under
the Securities Act of 1933, as amended (the "Securities Act"), or
any state securities laws, and unless so registered, the notes may
not be offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes
purchased by the initial purchasers will be offered and sold only
to qualified institutional buyers pursuant to Rule 144A under the
Securities Act and to persons outside the
United States pursuant to Regulation S under the Securities
Act.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of these securities, nor shall
there be any sale of these securities in any state in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
states.
Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements (as that
term is defined under the federal securities laws) made by the
Partnership and its management. Such statements are based on
current expectations, forecasts and projections, including, but not
limited to, anticipated financial and operating results, plans,
objectives, expectations and intentions that are not historical in
nature. Forward-looking statements should not be read as a
guarantee of future performance or results, and may not necessarily
be accurate indications of the times at, or by which, such
performance or results will be achieved. Forward-looking statements
are based on information available at the time, and are subject to
various risks and uncertainties, including risks relating to the
securities markets generally, the impact of adverse market
conditions impacting the Partnership's logistics and other assets
and other risks inherent in the Partnership's business. For more
information concerning factors that could cause actual results to
differ from those expressed or forecasted, see the Partnership's
filings with the SEC including its most recent Annual Report on
Form 10-K and its Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2017 and June 30, 2017. Forward-looking statements reflect
information, facts and circumstances only as of the date they are
made. The Partnership assumes no responsibility or obligation to
update forward-looking statements except as may be required by
law.
PBF Logistics LP
PBF Logistics LP, headquartered in Parsippany, New Jersey, is a fee-based,
growth-oriented master limited partnership formed by PBF Energy
Inc. to own or lease, operate, develop and acquire crude oil and
refined petroleum products terminals, pipelines, storage facilities
and similar logistics assets.
View original content with
multimedia:http://www.prnewswire.com/news-releases/pbf-logistics-lp-announces-pricing-of-upsized-offering-of-175-million-of-additional-6875-senior-notes-due-2023-300530363.html
SOURCE PBF Logistics LP