PBF Energy to sell $500 million seven-year notes in Monday drive-by

By Paul A. Harris

Portland, Ore., Aug. 14 – PBF Energy Inc. plans to price a $500 million offering of seven-year senior notes (Ba3/BB/BB) in a Monday drive-by, according to market sources.

The Rule 144A and Regulation S notes come with three years of call protection.

BofA Securities Inc., MUFG Securities Americas Inc. and Wells Fargo Securities LLC are the global coordinators and bookrunners.

The Parsippany, N.J.-based refiner plans to use the proceeds plus cash on hand to redeem its 7¼% senior notes due 2025.

The issuing entities will be PBF Holding Co. LLC, an indirect subsidiary of PBF Energy, along with co-issuer PBF Finance Corp., a wholly owned subsidiary of PBF Holding.

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