PBF Holding, an indirect subsidiary of PBF Energy, has announced a private offering of $500 million of senior notes due 2030.
PBF Holding intends to use the net proceeds from the proposed offering, along with cash on hand, to fund the redemption of its 7.25 percent senior notes due 2025.
The notes will be co-issued by PBF Finance Corp., a wholly owned subsidiary of PBF Holding, and are expected to be resold by the initial purchasers to qualified institutional buyers.
PBF Energy is one of the largest independent refiners in North America. The company operates oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio through its subsidiaries.