Delek Logistics Prices $800M of 6.875% Notes; $400M 2029 Notes Conditional Redemption
Delek Logistics (DKL) has priced an $800 million offering of 6.875% senior notes due in 2034, with the offering expected to close on May 14, 2026. Concurrently, the company issued a conditional notice to partially redeem $400 million of its outstanding 8.625% senior notes due in 2029. The net proceeds from the new notes are primarily intended to repurchase 7.125% senior notes due 2028 via a tender offer, redeem a portion of the 2029 notes, and cover related expenses, with any remaining funds used for general corporate purposes.
MAY 4·Business Wire▲
Delek Logistics Partners, LP Announces Pricing of Offering of $800 Million of Senior Notes
Delek Logistics Partners, LP (NYSE: DKL) has priced an offering of $800 million in 6.875% senior notes due 2034. The company plans to use the net proceeds to repurchase all outstanding 7.125% Senior Notes due 2028 and redeem a portion of its 8.625% Senior Notes due 2029, with any remaining funds for general corporate purposes. The offering is expected to close on May 14, 2026, and is being made to qualified institutional buyers and non-U.S. persons.
APR 29·MarketBeat→
Delek Logistics Partners (NYSE:DKL) Issues Earnings Results, Misses Estimates By $0.35 EPS
Delek Logistics Partners (NYSE:DKL) reported Q1 EPS of $0.60, missing analyst estimates by $0.35, despite management reaffirming full-year 2026 Adjusted EBITDA guidance. The company approved its 53rd consecutive quarterly distribution increase to $1.13 per unit, resulting in an 8.6% yield, but noted a high payout ratio of 137%. Key operational highlights include the completion of its first AGI well and expected ramp-up in sour-gas and produced-water gathering, though adjusted leverage remains a concern at 4.05x.
