PBF Energy Closes $500M Senior Notes Offering at 7.250% to Refinance Debt
PBF has more than doubled off its 52-week low of $17.53.
Summary
PBF Energy completed a $500 million senior notes offering with a 7.250% interest rate due 2034, using the proceeds to refinance existing debt.
Key Events · Financing and Capital Events · PBF
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Senior Notes Offering Closed
PBF Holding Company LLC, a subsidiary of PBF Energy, closed a $500 million aggregate principal amount offering of 7.250% Senior Notes due 2034.
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Debt Refinancing
Net proceeds of approximately $492.7 million will be used to redeem in full the outstanding 6.00% senior unsecured notes due 2028.
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Higher Interest, Extended Maturity
The new notes carry a higher interest rate (7.250% vs 6.00%) but extend the debt maturity by six years, from 2028 to 2034.
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Follows Recent Announcement
This closing finalizes the offering that was initially announced in an 8-K filing on May 26, 2026.
Analysis · PBF · Energy & Transportation
PBF Energy has finalized its $500 million senior notes offering, securing net proceeds of $492.7 million. The funds will be used to redeem existing 6.00% senior unsecured notes due 2028. While the new notes carry a higher interest rate of 7.250%, they extend the company's debt maturity to 2034, providing crucial liquidity management amidst recent operational challenges and a wider-than-expected Q1 loss. This closing finalizes the offering that was initially announced in an 8-K filing on May 26, 2026.
At the time of this filing, PBF was trading at $39.82 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.7B. The 52-week trading range was $17.53 to $52.18. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.