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"), intends to offer, subject to market
and other conditions, $500 million in
aggregate principal amount of senior notes due 2030 (the "Notes")
in a private offering. The Notes will be co-issued by PBF Finance
Corporation, a wholly owned subsidiary of PBF Holding. Completion
of the offering is subject to, among other things, pricing and
market conditions. PBF Holding intends to use the net proceeds from
the proposed offering, together with cash on hand, to fund the
redemption of its 7.25% Senior Notes due 2025 (the "2025
Notes").
The Notes will be offered in a private placement and are
expected to be resold by the initial purchasers to qualified
institutional buyers under Rule 144A under the Securities Act of
1933, as amended (the "Securities Act") and to
non-U.S. persons outside the United States pursuant
to Regulation S under the Securities Act. The offer of the Notes
will be made only by means of a private offering memorandum to
qualified investors and has not been and will not be registered
under the Securities Act or any applicable state securities laws,
and the Notes may not be offered or sold in the United
States absent registration under the Securities Act or an
applicable exemption from the registration requirements of the
Securities Act.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and 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
proposed offering, the proposed redemption, the securities markets
generally and the company's expectations with respect to the timing
and size of the proposed 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.