PBF Logistics LP and wholly owned subsidiary PBF Logistics Finance Corp. offered $300 million, in aggregate principal amount, of senior notes in a private placement, the company said May 1.
The notes are due 2023.
Net proceeds will repay some of the outstanding revolving credit facility debts and pay some cash consideration, payable by PBF Logistics, for the proposed acquisition of Delaware City Products Pipeline and truck rack from PBF Energy. They will also support general partnership purposes.
Parsippany, N.J.-based PBF Logistics LP is a midstream MLP formed by PBF Energy Inc.
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