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United States : PBF Logistics LP announces Exercise of Option to purchase additional Units.

PBF Logistics LP announced today that the underwriter of its previously announced registered underwritten public offering of 4,000,000 common units representing limited partner interests has exercised its option to purchase an additional 375,000 common units. Total gross proceeds (before underwriter's discounts and commissions) for the full 4,375,000 common units will be approximately $88 million.

The Partnership used a portion of the proceeds from the offering to fund part of the purchase price for its recently completed acquisition, from an affiliate of PBF Energy Inc., of a 50 percent interest in the Torrance Valley Pipeline Company LLC. The remaining proceeds will be used for general partnership purposes.

Deutsche Bank Securities is the underwriter of the offering.

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Publication:Mena Report
Date:Sep 14, 2016
Words:133
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