PARSIPPANY, N.J., Aug. 14,
2023 /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) ("PBF
Energy") today announced that its indirect subsidiary, PBF Holding
Company LLC ("PBF Holding"), priced $500
million in aggregate principal amount of 7.875% senior notes
due 2030 (the "Notes") at an issue price of 99.324% in a private
offering. The offering is expected to close on August 21, 2023, subject to customary closing
conditions. The Notes will be co-issued by PBF Finance
Corporation, a wholly owned subsidiary of PBF Holding. PBF Holding
intends to use the net proceeds from the offering, together with
cash on hand, to fund the redemption of its 7.25% Senior Notes due
2025 (the "2025 Notes").
The Notes to be offered and sold have not been registered under
the Securities Act of 1933, as amended (the "Securities Act"), or
any state securities laws, and unless so registered, the Notes may
not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act and applicable
state securities laws. The Notes were offered and will be sold only
to persons reasonably believed to be qualified institutional buyers
pursuant to Rule 144A under the Securities Act and to
non-U.S. persons outside the United States pursuant
to Regulation S under the Securities Act.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes and shall not constitute
an offer to sell or a solicitation of an offer to buy, or a sale of
any Notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration, qualification or
exemption under the securities laws of any such jurisdiction.
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 risks relating to the
offering not closing, the proposed redemption, the securities
markets generally and the company's expectations with respect to
the timing and size 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 securities laws.
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.
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SOURCE PBF Energy Inc.