Financing ·
Delek Logistics Partners, LP closed an underwritten public offering of 4,600,000 common units at $50.00 per unit…
DKLDelek Logistics Partners, LP
Delek Logistics Partners, LP closed an underwritten public offering of 4,600,000 common units at $50.00 per unit, including a full exercise of the underwriters' option for 600,000 additional units. The transaction generated gross proceeds of approximately $220.8 million, which will be used to repay revolving credit borrowings and for general partnership purposes. Consequently, parent company Delek Holdings’ ownership stake decreased from 63.0% to approximately 58.0%. Truist Securities, Mizuho, and Raymond James served as joint book-running managers. Delek Logistics is a midstream energy master limited partnership that provides gathering, pipeline transportation, storage, and water disposal services for crude oil and natural gas in the Permian Basin and Gulf Coast regions.