[8-K] DELEK LOGISTICS PARTNERS, LP Reports Material Event
Delek Logistics Partners (NYSE:DKL) filed an 8-K (Item 8.01) disclosing that it and Delek Logistics Finance Corp. have priced an upsized $700 million offering of 7.375% senior notes due 2033. The notes were marketed under Rule 135c and replace no prior securities noted in the filing. Proceeds will add to the partnership’s liquidity but also raise leverage and interest expense because of the relatively high coupon. Other than the inclusion of the press release (Ex. 99.1) and XBRL cover data, no additional financial statements or strategic updates were provided.
Delek Logistics Partners (NYSE:DKL) ha presentato un modulo 8-K (Voce 8.01) comunicando che insieme a Delek Logistics Finance Corp. ha prezzato un'offerta aumentata di 700 milioni di dollari di obbligazioni senior al 7,375% con scadenza 2033. Le obbligazioni sono state commercializzate secondo la Regola 135c e non sostituiscono titoli precedentemente segnalati nel documento. I proventi aumenteranno la liquidità della partnership, ma incrementeranno anche la leva finanziaria e gli oneri per interessi a causa del coupon relativamente elevato. A parte l'inclusione del comunicato stampa (Ex. 99.1) e i dati di copertura XBRL, non sono stati forniti ulteriori rendiconti finanziari o aggiornamenti strategici.
Delek Logistics Partners (NYSE:DKL) presentó un formulario 8-K (Ítem 8.01) informando que junto con Delek Logistics Finance Corp. han fijado el precio de una oferta ampliada de 700 millones de dólares en bonos senior al 7.375% con vencimiento en 2033. Los bonos se comercializaron bajo la Regla 135c y no reemplazan ningún valor previo mencionado en la presentación. Los ingresos aumentarán la liquidez de la sociedad, pero también incrementarán el apalancamiento y los gastos por intereses debido al cupón relativamente alto. Aparte de la inclusión del comunicado de prensa (Ex. 99.1) y los datos de cobertura XBRL, no se proporcionaron estados financieros adicionales ni actualizaciones estratégicas.
Delek Logistics Partners (NYSE:DKL)는 8-K 보고서(Item 8.01)를 제출하며 Delek Logistics Finance Corp.와 함께 2033년 만기 7.375% 고정금리 선순위 채권 7억 달러 증액 발행 가격을 확정했다고 공시했습니다. 이 채권은 Rule 135c에 따라 마케팅되었으며, 제출서류에 명시된 이전 증권을 대체하지 않습니다. 조달된 자금은 파트너십의 유동성을 높이지만 상대적으로 높은 쿠폰으로 인해 레버리지와 이자 비용도 증가할 것입니다. 보도자료(Ex. 99.1)와 XBRL 커버 데이터 포함 외에는 추가 재무제표나 전략적 업데이트가 제공되지 않았습니다.
Delek Logistics Partners (NYSE:DKL) a déposé un formulaire 8-K (point 8.01) indiquant qu'elle et Delek Logistics Finance Corp. ont fixé le prix d'une émission augmentée de 700 millions de dollars de billets seniors à 7,375% échéant en 2033. Les billets ont été commercialisés selon la règle 135c et ne remplacent aucun titre antérieur mentionné dans le dépôt. Les fonds recueillis renforceront la liquidité du partenariat, mais augmenteront également l'effet de levier et les charges d'intérêts en raison du coupon relativement élevé. Hormis l'inclusion du communiqué de presse (Ex. 99.1) et des données de couverture XBRL, aucun autre état financier ou mise à jour stratégique n'a été fourni.
Delek Logistics Partners (NYSE:DKL) hat einen 8-K-Bericht (Punkt 8.01) eingereicht, in dem bekannt gegeben wird, dass sie zusammen mit Delek Logistics Finance Corp. ein aufgestocktes Angebot von 700 Millionen US-Dollar an 7,375% Senior Notes mit Fälligkeit 2033 bepreist haben. Die Anleihen wurden gemäß Rule 135c vermarktet und ersetzen keine zuvor im Bericht genannten Wertpapiere. Die Erlöse werden die Liquidität der Partnerschaft erhöhen, aber auch die Verschuldung und Zinsaufwendungen aufgrund des relativ hohen Kupons steigern. Abgesehen von der Aufnahme der Pressemitteilung (Ex. 99.1) und der XBRL-Cover-Daten wurden keine weiteren Finanzberichte oder strategischen Updates bereitgestellt.
- Upsized $700 million senior notes offering indicates strong market demand and secures long-term capital until 2033
- High 7.375% coupon increases annual interest expense by an estimated $52 million and elevates leverage
Insights
TL;DR: $700 M 7.375% notes boost cash, extend tenor; leverage impact moderates benefit.
The upsizing signals solid investor demand despite a 7.375% coupon, locking in long-term funding until 2033. While the raise secures fresh capital ahead of potential rate volatility, it materially enlarges the debt stack. Without stated use-of-proceeds, it is unclear whether funds will refinance costlier maturities or finance growth capex. Net effect is liquidity positive but earnings-per-unit could face incremental interest expense of roughly $52 million annually, assuming full draw. Market should view the transaction as strategically prudent yet financially neutral.
TL;DR: High-coupon debt adds leverage, modestly weakens credit profile.
An additional $700 million at 7.375% lifts total debt and locks in a rate well above the partnership’s historical weighted average. Absent offsetting asset sales or EBITDA growth, leverage ratios will rise and fixed-charge coverage may tighten by ~70 bps. The 8-year maturity avoids near-term refinancing risk, yet the elevated coupon raises interest burden during a high-rate cycle. Overall, credit quality edges lower and balance-sheet flexibility diminishes.
Delek Logistics Partners (NYSE:DKL) ha presentato un modulo 8-K (Voce 8.01) comunicando che insieme a Delek Logistics Finance Corp. ha prezzato un'offerta aumentata di 700 milioni di dollari di obbligazioni senior al 7,375% con scadenza 2033. Le obbligazioni sono state commercializzate secondo la Regola 135c e non sostituiscono titoli precedentemente segnalati nel documento. I proventi aumenteranno la liquidità della partnership, ma incrementeranno anche la leva finanziaria e gli oneri per interessi a causa del coupon relativamente elevato. A parte l'inclusione del comunicato stampa (Ex. 99.1) e i dati di copertura XBRL, non sono stati forniti ulteriori rendiconti finanziari o aggiornamenti strategici.
Delek Logistics Partners (NYSE:DKL) presentó un formulario 8-K (Ítem 8.01) informando que junto con Delek Logistics Finance Corp. han fijado el precio de una oferta ampliada de 700 millones de dólares en bonos senior al 7.375% con vencimiento en 2033. Los bonos se comercializaron bajo la Regla 135c y no reemplazan ningún valor previo mencionado en la presentación. Los ingresos aumentarán la liquidez de la sociedad, pero también incrementarán el apalancamiento y los gastos por intereses debido al cupón relativamente alto. Aparte de la inclusión del comunicado de prensa (Ex. 99.1) y los datos de cobertura XBRL, no se proporcionaron estados financieros adicionales ni actualizaciones estratégicas.
Delek Logistics Partners (NYSE:DKL)는 8-K 보고서(Item 8.01)를 제출하며 Delek Logistics Finance Corp.와 함께 2033년 만기 7.375% 고정금리 선순위 채권 7억 달러 증액 발행 가격을 확정했다고 공시했습니다. 이 채권은 Rule 135c에 따라 마케팅되었으며, 제출서류에 명시된 이전 증권을 대체하지 않습니다. 조달된 자금은 파트너십의 유동성을 높이지만 상대적으로 높은 쿠폰으로 인해 레버리지와 이자 비용도 증가할 것입니다. 보도자료(Ex. 99.1)와 XBRL 커버 데이터 포함 외에는 추가 재무제표나 전략적 업데이트가 제공되지 않았습니다.
Delek Logistics Partners (NYSE:DKL) a déposé un formulaire 8-K (point 8.01) indiquant qu'elle et Delek Logistics Finance Corp. ont fixé le prix d'une émission augmentée de 700 millions de dollars de billets seniors à 7,375% échéant en 2033. Les billets ont été commercialisés selon la règle 135c et ne remplacent aucun titre antérieur mentionné dans le dépôt. Les fonds recueillis renforceront la liquidité du partenariat, mais augmenteront également l'effet de levier et les charges d'intérêts en raison du coupon relativement élevé. Hormis l'inclusion du communiqué de presse (Ex. 99.1) et des données de couverture XBRL, aucun autre état financier ou mise à jour stratégique n'a été fourni.
Delek Logistics Partners (NYSE:DKL) hat einen 8-K-Bericht (Punkt 8.01) eingereicht, in dem bekannt gegeben wird, dass sie zusammen mit Delek Logistics Finance Corp. ein aufgestocktes Angebot von 700 Millionen US-Dollar an 7,375% Senior Notes mit Fälligkeit 2033 bepreist haben. Die Anleihen wurden gemäß Rule 135c vermarktet und ersetzen keine zuvor im Bericht genannten Wertpapiere. Die Erlöse werden die Liquidität der Partnerschaft erhöhen, aber auch die Verschuldung und Zinsaufwendungen aufgrund des relativ hohen Kupons steigern. Abgesehen von der Aufnahme der Pressemitteilung (Ex. 99.1) und der XBRL-Cover-Daten wurden keine weiteren Finanzberichte oder strategischen Updates bereitgestellt.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On June 25, 2025, Delek Logistics Partners, LP, a Delaware limited partnership (the “Partnership”), issued a press release in accordance with Rule 135c under the Securities Act of 1933, as amended, announcing that the Partnership and Delek Logistics Finance Corp., a Delaware corporation and wholly-owned subsidiary of the Partnership, have priced an upsized offering of $700 million in aggregate principal amount of 7.375% senior notes due 2033.
A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number |
Description | |
| 99.1 | Press release of Delek Logistics Partners, LP, dated June 25, 2025. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: June 25, 2025 | DELEK LOGISTICS PARTNERS, LP By: Delek Logistics GP, LLC its general partner | |||||
| /s/ Robert Wright | ||||||
| Name: Robert Wright Title: Executive Vice President and Chief Financial Officer DKL (Principal Financial Officer) | ||||||
FAQ
How much capital did DKL raise in its June 2025 note offering?
What is the interest rate and maturity of Delek Logistics’ new debt?
When was the press release about the senior notes issued?
Does the 8-K disclose how DKL will use the $700 million proceeds?
Which subsidiary co-issued the 7.375% senior notes with DKL?
