DELEK LOGISTICS PARTNERS, LP Delek Logistics Partners, LP ("Delek Logistics") and Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the "Offerors"), announced that they have received, as of 5:00 p.m., New York City time, on March 8, 2024 (the "Expiration Time"), tenders from holders of $155,991,000 in aggregate principal amount (excluding tenders through guaranteed delivery procedures), representing approximately 62.4%, of the Offerors' 6.75% Senior Notes due 2025 (CUSIP Nos. 24665FAB8 /24665FAA0 (144A)) (ISINs US24665FAB85 /US24665FAA03 (144A) (the "Notes"), in connection with the Offerors' previously announced tender offer (the "Offer"), which commenced February 28, 2024 and is described in the Offer to Purchase, dated as of February 28, 2024, and the related Letter of Transmittal and Notice of Guaranteed Delivery (collectively, the "Offer Documents"). The Offerors' obligation to accept for purchase, and to pay for, any Notes pursuant to the Offer is subject to a number of conditions set forth in the Offer Documents, including the Offerors' consummation, on terms and conditions satisfactory to the Offerors, of the concurrent bond offering announced on February 28, 2024 and the receipt of net proceeds therefrom, together with other sources of liquidity, sufficient to purchase the Notes tendered in the Offer and the fees and expenses related thereto.
Subject to the satisfaction or waiver of the conditions set forth in the Offer Documents, the settlement date for the Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted for purchase in the Offer, including Notes submitted using the Notice of Guaranteed Delivery, is expected to occur on March 13, 2024 (the "Settlement Date"). Notes validly tendered (and not validly withdrawn) and accepted for purchase will receive total consideration of $1,000.80 for each $1,000 principal amount of the Notes tendered, plus accrued and unpaid interest up to, but excluding, the Settlement Date for such Notes. Substantially concurrently with the commencement of the Offer, the Offerors issued a conditional notice of full redemption to redeem all outstanding Notes not purchased in the Offer and that remain outstanding pursuant to the indenture governing the Notes.
Nothing in this announcement should be construed as a notice of redemption with respect to the Notes, as any redemption will be made pursuant to a notice of redemption in accordance with the indenture governing the Notes.
