Delek Logistics Partners, LP Announces Cash Tender Offer for 7.125% Senior Notes Due 2028 and Concurrent Debt Offering

Key Points for Investors

• Tender Offer Launched: Delek Logistics Partners, LP (NYSE: DKL) and its subsidiary, Delek Logistics Finance Corp., have commenced a cash tender offer for any and all outstanding 7.125% Senior Notes due 2028.
• Tender Price: Holders who tender their Notes before the expiration date will receive \$1,001.35 per \$1,000.00 principal amount of Notes accepted for purchase.
• Interest Payment: Payments for purchased Notes will also include accrued and unpaid interest from the last interest payment date up to, but not including, the settlement date.
• Offer Expiry: The tender offer will expire at 5:00 p.m., New York City time, on May 11, 2026, unless extended or earlier terminated.
• Settlement Date: Settlement for Notes tendered and accepted is expected to occur on May 14, 2026, provided all conditions are met.
• Financing Condition: The offer is contingent on Delek Logistics successfully completing a concurrent bond offering and securing sufficient liquidity to fund the purchase and related fees.
• No Minimum Tender Condition: The offer is not conditioned on any minimum amount of Notes being tendered.
• Potential Partial Redemption of 2029 Notes: Delek Logistics intends to issue a conditional notice of partial redemption for a portion of its outstanding 8.625% Senior Notes due 2029, following the pricing of the new bond offering.
• Dealer Manager and Information Agent: Wells Fargo Securities, LLC is acting as the Dealer Manager, with D.F. King & Co., Inc. serving as the Tender Agent and Information Agent.

Details and Implications for Shareholders

The announcement of this tender offer and concurrent debt offering is significant for shareholders for several reasons:

• Debt Refinancing Strategy: By offering to purchase all outstanding 7.125% Senior Notes due 2028, Delek Logistics is likely seeking to optimize its capital structure, potentially reducing interest expense or extending debt maturities. This could improve future cash flows and strengthen the company’s balance sheet.
• Potential Impact on Share Price: The successful completion of the tender offer and concurrent bond offering could be viewed positively by investors, as it indicates active balance sheet management and may reduce future interest obligations. However, failure to complete the financing could result in the termination of the tender offer, which may negatively affect market sentiment.
• Partial Redemption of 2029 Notes: The intention to redeem a portion of the 8.625% Senior Notes due 2029 suggests Delek Logistics is also targeting higher-cost debt for reduction, which could further lower interest expenses and improve credit metrics.
• Risk Factors: The offer is contingent on the successful completion of the new bond offering. There is no assurance that the tender will be fully or partially subscribed or that the concurrent offering will be completed as planned. Market risks, liquidity, and other uncertainties could impact the outcome.
• Forward-Looking Statements: The company has cautioned that statements regarding the offer, refinancing, and any related transactions are forward-looking and subject to significant risks and uncertainties, including market conditions and other factors outside their control.

How to Participate

Noteholders seeking to participate in the tender offer should contact Wells Fargo Securities, LLC’s Liability Management Group or D.F. King & Co., Inc. for further information and copies of the offer documents. The offer documents are also available online.

About Delek Logistics Partners, LP

Delek Logistics is a midstream energy master limited partnership based in Brentwood, Tennessee, providing gathering, pipeline, transportation, storage, wholesale marketing, terminalling, water disposal, and recycling services, primarily in the Permian Basin, Delaware Basin, and Gulf Coast region. Delek US Holdings, Inc. holds the general partner interest and a majority limited partner interest in Delek Logistics and is also a significant customer.

Disclaimer

This article is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The tender offer and concurrent bond offering are subject to specific terms, conditions, and risks outlined in the official documents and filings with the Securities and Exchange Commission (SEC). Investors should review all related documents and consult their financial advisors before making any investment decisions. The forward-looking statements in this article involve risks and uncertainties, and actual results may differ materially from those projected.

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