PBF Logistics LP has recently announced that the underwriter of its previously announced registered underwritten public offering of 4 million common units has exercised the option of purchasing an additional 375 000 common units.
Total gross proceeds before underwriter's discounts and commissions will be approximately US$88 million for the almost 4.4 million common units.
PBF Logistics LP has used a proportion of the proceeds from the offering to fund part of the purchase price of its recently completed acquisition. The acquisition was for a 50% stake in the Torrance Valley Pipeline Company LLC.
The remaining proceeds will be used for general partnership purposes.
Deutsche Bank Securities is the underwriter of the offering.
Adapted from press release by Anna Nicklin