PBF Energy Issues $500M 7.25% Notes to Redeem $801.6M 2028 Debt
PBF•PBF Energy is issuing $500 million 7.25% senior notes due 2034 to redeem $801.6 million 6.00% notes due 2028, extending its debt maturity profile. The company's debt-to-equity ratio of 0.65 and current ratio of 1.31 support liquidity; analysts assign a $48 price target on its 10.41 P/E and 0.15 P/S.
1. Debt Refinancing Plan
PBF Energy plans to issue $500 million of 7.25% senior notes due 2034 to redeem $801.6 million of 6.00% senior notes due 2028, extending its debt maturity profile and reducing near-term rollover risk. The offering proceeds will be supplemented with cash balances to complete the redemption.
2. Capital Structure Metrics
Following the transaction, PBF expects to maintain a debt-to-equity ratio of 0.65 alongside a current ratio of 1.31, indicating balanced leverage and sufficient liquidity to cover short-term liabilities.
3. Analyst Valuation Outlook
Analysts assign a $48 price target based on PBF’s 10.41 trailing P/E and 0.15 P/S ratios, highlighting attractive valuation and the enhanced financial stability from the extended debt maturity.
