PBF Energy prices USD 500 million 0% exchangeable notes due 2032
PBF•PBF Energy prices exchangeable notes due 2032
PBF Energy priced a private offering of USD 500 million 0% exchangeable notes due 2032.
- Issuance expected to close Sept. 17.
- Net proceeds estimated at about USD 485 million, rising to about USD 533.6 million with a USD 50 million upsized option.
- Most proceeds are earmarked to repay or redeem outstanding 7.875% senior unsecured notes due 2030.
- Initial exchange price set at about USD 96.8 a share, a 37.5% premium to the prior close.
