PARSIPPANY, N.J., Oct. 3, 2017 /PRNewswire/ -- PBF Logistics
LP (the "Partnership") (NYSE:PBFX) today announced that it intends
to offer $150 million aggregate
principal amount of additional 6.875% Senior Notes due 2023 (the
"notes"). The Partnership 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 are expected to 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 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 persons outside
the United States pursuant to
Regulation S under the Securities Act of 1933, as amended (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.
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.
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SOURCE PBF Logistics LP