PARSIPPANY, N.J., Dec. 16, 2020 /PRNewswire/ -- PBF Energy
Inc. (NYSE:PBF) ("PBF Energy") today announced that its indirect
subsidiary, PBF Holding Company LLC ("PBF Holding"), intends to
commence an add-on offering, subject to market and other
conditions, of $250.0 million in
aggregate principal amount of 9.25% senior secured notes due 2025
(the "Notes"). The Notes will be co-issued by PBF Finance
Corporation, a wholly owned subsidiary of PBF Holding. The Notes
will be issued as additional notes under the existing indenture
pursuant to which PBF Holding and PBF Finance Corporation
previously issued $1,000.0 million
aggregate principal amount of 9.25% Senior Secured Notes due 2025.
Completion of the offering is subject to, among other things,
pricing and market conditions. PBF Holding intends to use the net
proceeds from the offering for general corporate purposes.
The Notes will be offered in a private placement and are
expected to be resold by the initial purchasers to qualified
institutional buyers under Rule 144A and to non-U.S. persons
outside the United States pursuant
to Regulation S under the Securities Act of 1933, as ammended (the
"Securities Act"). The offer of the Notes will be made only by
means of an offering memorandum to qualified investors and has not
been registered under the Securities Act or any applicable state
securities laws, and the Notes may not be offered or sold in
the United States absent
registration under the Securities Act or an applicable exemption
from the registration requirements of the Securities Act.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy any securities and shall not
constitute an offer to sell or a solicitation of an offer to buy,
or a sale of any securities in any jurisdiction in which such
offer, solicitation or sale is unlawful.
Forward-Looking Statements
Statements in this press
release relating to future plans, results, performance,
expectations, achievements and the like are considered
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, without limitation, the company's expectations
with respect to the timing and amount of the offering and the
anticipated use of proceeds therefrom. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors, many of which may be beyond the company's control, that
may cause actual results to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Factors and uncertainties that may
cause actual results to differ include but are not limited to the
risks disclosed in the company's filings with the SEC. All
forward-looking statements speak only as of the date hereof. The
company undertakes no obligation to revise or update any
forward-looking statements except as may be required by applicable
law.
About PBF Energy Inc.
PBF Energy Inc. (NYSE:PBF) is
one of the largest independent refiners in North America, operating, through its
subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New
Jersey and Ohio. Our
mission is to operate our facilities in a safe, reliable and
environmentally responsible manner, provide employees with a safe
and rewarding workplace, become a positive influence in the
communities where we do business, and provide superior returns to
our investors.
PBF Energy Inc. also currently indirectly owns the general
partner and approximately 48% of the limited partnership interest
of PBF Logistics LP (NYSE: PBFX).
View original content to download
multimedia:http://www.prnewswire.com/news-releases/pbf-energy-announces-250-million-add-on-offering-of-9-25-senior-secured-notes-due-2025--301194035.html
SOURCE PBF Energy Inc.