Delek Logistics Partners and Delek Logistics Finance Corp. launched a cash tender offer for all of their outstanding 7.125% senior notes due 2028, offering holders $1,001.35 for each $1,000 principal amount tendered.
The offer began May 4, 2026 and is set to expire at 5:00 p.m. New York City time on May 11, 2026, unless extended or ended earlier. If the notes are accepted and the transaction closes as expected on May 14, 2026, holders will also receive accrued and unpaid interest through the settlement date.
The company said the tender offer is tied to a concurrent bond offering announced the same day. Proceeds from that new debt, together with other liquidity, must be enough to fund the repurchase and related fees. The tender offer is not subject to any minimum tender threshold.
Alongside the new financing, Delek Logistics said it plans to issue a conditional notice of partial redemption for some of its 8.625% senior notes due 2029 after pricing the concurrent bond deal.
Wells Fargo Securities is serving as dealer manager for the tender offer, and D.F. King is acting as tender agent and information agent. The market has reacted to these announcements by moving the company's shares -2.12% to a price of $50.41. For more information, read the company's full 8-K submission here.
