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PBF Energy subsidiary prices $1B senior note offering

PBF Energy Inc. subsidiary PBF Holding Co. priced a previously announced private offering of $1 billion of 6.00% senior unsecured notes due 2028, according to a Jan. 16 news release.

PBF Holding plans to use the proceeds to fund the redemption of its outstanding 7.00% senior notes due 2023 and for general corporate purposes, which includes paying the cash consideration of its pending acquisition of the Martinez Refinery in California. The notes will be co-issued by PBF Holding unit PBF Finance Corp.

The offering is expected to close Jan. 24, subject to customary closing conditions.

PBF Energy is one of the largest independent refiners in North America.