Delek US prices $400 million convertible senior notes offering
DK•Delek US priced a private offering of $400 million of 0.00% convertible senior notes due 2031, with an option for up to $60 million more. Proceeds are earmarked for capped call transactions, general corporate purposes and partial repayment of its term loan credit facility.
1. Offering details
Delek US priced a private offering of $400 million of 0.00% convertible senior notes due 2031. Initial purchasers have a 13-day option to buy up to an additional $60 million of notes. The notes initially convert at 11,722 shares per $1,000 principal, implying an initial conversion price of about $85.31. Closing is expected Sept. 29, 2026, subject to customary conditions.
