#USA #Senior Notes #Parsippany #PBF Energy #PBF Holding

PBF Energy's Recent Financial Maneuvering

PBF Energy Inc., a significant player in North America’s refining sector, has made headlines with its recent announcement regarding the pricing of an upsized $800 million worth of senior notes. The notes carry an attractive interest rate of 9.875% and are set to mature in 2030. This financial decision was made through its subsidiary, PBF Holding Company LLC, further solidifying its standing in the marketplace.

Key Details of the Offering

The notes were priced at an issue price of 98.563%, inviting considerable interest from investors. The company aims to close the offering on March 17, 2025, contingent upon the fulfillment of standard closing conditions. This strategic move is part of PBF Holding’s broader objective of optimizing its capital structure while providing a clear pathway for future endeavors.

PBF Holding has expressed intentions to utilize the funds raised primarily for repaying outstanding borrowings under its asset-based revolving credit facility as well as for various general corporate purposes. This showcases a proactive approach to managing its financial obligations and laying a strong foundation for future growth opportunities.

Investors' Interest in Private Offerings

The senior notes will be placed privately and are anticipated to be resold only to qualified institutional buyers following Rule 144A of the Securities Act of 1933. Non-U.S. investors will also have the opportunity to engage under Regulation S of the same act. However, it’s essential to note that the notes will not be registered under the Securities Act or any state laws, emphasizing the private nature of this offering.

Disclaimer on Market Offerings

PBF Energy has clarified that this announcement does not constitute an offer to sell or solicit investments in any jurisdiction where such an action would be deemed illegal. The note offering is strictly for qualified investors and includes disclaimers that protect the company from outside allegations regarding the nature of the offering.

Looking Ahead: PBF Energy's Future

With this financial maneuver, PBF Energy seeks to bolster its operational capabilities. The company is recognized not only for its refining endeavors but also for its commitment to sustainable practices, being a 50% partner in the St. Bernard Renewables joint venture, which focuses on producing next-generation sustainable fuels.

In an era where energy and operational efficiency are paramount, PBF Energy remains dedicated to ensuring that its facilities operate in a manner that is responsible and community-oriented while delivering substantial returns to its investors.

For further inquiries, Colin Murray is available for investor relations at 973.455.7578, while media-related questions can be directed to Michael C. Karlovich at 973.455.8981.

About PBF Energy Inc.

PBF Energy is recognized as one of the largest independent refiners in North America, with operational facilities across prominent states including California, Delaware, Louisiana, New Jersey, and Ohio. The company's mission revolves around operating its refineries safely, responsibly, and with a clear focus on community engagement.

As the company navigates through the complexities of the energy market, its latest offering is a testament to its strategic foresight and commitment to maintaining a leading position in the refining sector.