PBF Logistics LP (“PBF Logistics”), a master limited partnership formed by subsidiaries of PBF Energy Inc. (NYSE:PBF, “PBF Energy”), today announced that it has priced an initial public offering of 13,750,000 common units representing limited partner interests in PBF Logistics, at $23.00 per unit, pursuant to a Registration Statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (“SEC”). The underwriters of the offering have been granted a 30-day option to purchase up to an additional 2,062,500 common units from PBF Logistics at the initial public offering price. The common units are expected to begin trading May 9, 2014, on the New York Stock Exchange under the symbol "PBFX". The offering is expected to close on or about May 14, 2014, subject to customary closing conditions.
Upon the closing of this offering, the public will own a 43.3% limited partner interest in PBF Logistics, or a 49.8% interest if the underwriters exercise in full their option to purchase additional common units. PBF Energy, through certain of its subsidiaries, will own the remaining limited partner interests in PBF Logistics, the non-economic general partner interest and all of the incentive distribution rights.
Barclays and UBS Investment Bank are serving as joint bookrunners and structuring agents of the offering. Citigroup, Credit Suisse, Deutsche Bank Securities, Morgan Stanley and Wells Fargo Securities are serving as joint bookrunners of the offering.
A registration statement on Form S-1 relating to these units has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of common units will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be accessed through the SEC’s website at http://www.sec.gov, or obtained from the offices listed below:BarclaysAttention: Prospectus Departmentc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Toll-free number: (888) 603-5847Email: Barclaysprospectus@broadridge.com UBS Investment BankAttention: Prospectus Department299 Park AvenueNew York, NY 10171Toll-free number: (888) 827-7275
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