MLP Delek Logistics Partners has closed its underwritten public offering of 4.42 million common units representing limited partner interests in Delek Logistics, including 576,922 common units sold after underwriters’ exercise their option to purchase additional units at $39 per unit.
Delek Logistics intends to use the $166 million gross proceeds to redeem its outstanding convertible preferred units and to repay outstanding borrowings under its revolving credit agreement, the company said Oct. 10.
Delek President Avigal Soreq and other executives purchased 7,177 of the common units at the price offered to the public.
The offering was made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.
BofA Securities, Barclays and RBC Capital Markets acted as joint book-running managers for the offering.
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