PBF Energy Plans a $750 Million Senior Notes Offering for 2030

PBF Energy Announces Its Intention to Offer $750 Million in Senior Notes Due 2030

PBF Energy Inc. (NYSE: PBF) has designated its indirect subsidiary, PBF Holding Company LLC, to launch a private offering of senior notes totaling $750 million, maturing in 2030. This development was revealed on March 12, 2025, and the offering is contingent on market conditions.

The senior notes will also be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. The planned use of the funds generated from this offering centers around repaying existing borrowings from PBF’s asset-based revolving credit facility, while also addressing various corporate financial needs. This strategic move aims to streamline the company’s financial structure and manage its existing obligations effectively.

These notes will be placed privately, with subsequent resale anticipated to take place among institutional buyers qualified under Rule 144A of the Securities Act of 1933. Non-U.S. persons outside the United States will also have the opportunity to purchase these securities through Regulation S.

It's noteworthy that the offering will be facilitated through a private placement memorandum aimed at qualified investors. The notes will not be registered under the Securities Act or applicable state securities laws, meaning they cannot be marketed or sold within the U.S. without compliance with registration requirements.

This announcement also includes a forward-looking statement disclaimer. Such statements regarding the future plans and expected outcomes of the offering carry inherent risks and uncertainties that could result in deviations from the anticipated results. Hence, they should be interpreted within the context of various market conditions and vehicle performance forecasts.

PBF Energy, established as one of North America's largest independent refiners, maintains an extensive operational footprint through its various subsidiaries, engaging in the refining and processing of oil across numerous states including California, Delaware, Louisiana, New Jersey, and Ohio. Their directive emphasizes the importance of responsible operations, promoting safety and environmental stewardship, while ensuring positive community interactions and sustaining satisfactory returns for stakeholders.

Furthermore, PBF Energy is significantly involved in the St. Bernard Renewables joint venture, which focuses on developing next-generation sustainable fuels, aligning with broader trends toward environmentally friendly energy solutions.

For more inquiries about this offering, investors can contact Colin Murray at [email protected], or for media related questions, Michael C. Karlovich at [email protected].

Given the dynamic landscape of financial markets and stringent regulatory frameworks, this move by PBF Energy underscores its commitment to maintaining robust financial health and supporting long-term growth strategies. As the company continues to navigate through market fluctuations, monitoring the progress of this offering will be crucial for investors and market analysts alike.

In summary, PBF Energy's intention to issue $750 million in senior notes presents an avenue for capital restructuring that aligns with the company's financial strategies and operational goals. Stakeholders will be keenly observing as the situation develops, particularly in light of the anticipated utilization of proceeds aimed at enhancing corporate liquidity and financial agility.