Reported Earlier, Delek Logistics Partners Prices Public Offering Of 3,846,153 Common Units At $39/Unit
Portfolio Pulse from Benzinga Newsdesk
Delek Logistics Partners has priced a public offering of 3,846,153 common units at $39 per unit. The proceeds will be used to redeem convertible preferred units and repay borrowings under its credit agreement.
October 09, 2024 | 6:21 am
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Delek Logistics Partners has announced a public offering of 3,846,153 common units at $39 per unit. The funds will be used to redeem convertible preferred units and repay outstanding borrowings under its revolving credit agreement.
The public offering is a significant financial move for Delek Logistics Partners, as it aims to improve its balance sheet by redeeming preferred units and reducing debt. However, the immediate impact on stock price is neutral as the offering price is set, and the market may have already anticipated this move.
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