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PBF Logistics to raise $53M in common unit offering due to underwriter's overallotment

on March 31 said thatthe underwriter of its public offeringof 2,500,000 common units has exercised in full its option to buy an additional375,000 common units, raising potential total gross proceeds to about $53 million.

Net proceedsfrom the offering is expected to partly fund its $100 million of four refined productterminals in the Greater Philadelphia region from a Plains All American Pipeline LP affiliate, and pending suchuse, to reduce indebtedness and for general partnership purposes.

The underwriterfor the offering is UBS Securities LLC. The closing is scheduled for April 5, subjectto customary closing conditions.