Delek Logistics Partners Prices Public Offering Of 3,116,884 Common Units At $38.50/Unit
Portfolio Pulse from Benzinga Newsdesk
Delek Logistics Partners, LP (DKL) has priced its public offering of 3,116,884 common units at $38.50 per unit. The offering includes an option for underwriters to purchase up to 467,532 additional units. Proceeds will be used to repay outstanding borrowings under its revolving credit agreement.

March 08, 2024 | 6:41 am
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Delek Logistics Partners, LP priced its public offering of over 3 million units at $38.50 each, with an option for underwriters to buy additional units, aiming to use the proceeds to repay debt.
The pricing of the public offering by Delek Logistics Partners is a common financial activity aimed at raising capital. The use of proceeds to repay debt is generally viewed positively as it can improve the company's balance sheet and reduce interest expenses. However, the impact on the stock price in the short term is uncertain, as the market's reaction can vary based on current market conditions, investor sentiment towards the company, and the perceived reasons behind the need to repay debt.
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