PBF Energy Announces Pricing for $500 Million in Exchangeable Notes
PARSIPPANY-TROY HILLS, N.J., Sept. 14, 2026 /PRNewswire/ — PBF Energy Inc. (NYSE:PBF) has priced $500 million in 0% exchangeable notes due 2032 through its subsidiary, PBF Holding Company LLC. This private offering, which closes on September 17, 2026, is exempt from registration under the Securities Act.
Key Details:
- Size of Offering: $500 million, with an option for initial purchasers to buy an additional $50 million.
- Interest Rate: The notes will not bear regular interest.
- Maturity Date: January 15, 2032.
- Exchange Rights: Noteholders can exchange their notes under specified conditions for cash, common stock, or a combination.
Redemption and Exchange:
- Redemption Options: The notes are not redeemable before January 20, 2030, except for certain conditions.
- Initial Exchange Rate: 10.3306 shares per $1,000 principal amount, representing an exchange price of approximately $96.80 per share.
Use of Proceeds:
- Estimated net proceeds of approximately $485 million will be used to cover capped call transaction costs and repay outstanding 2030 senior unsecured notes.
Forward-Looking Statements:
The company has provided forward-looking statements about the potential impact of market activities and anticipated results.
About PBF Energy Inc.:
PBF Energy Inc. is a leading independent refiner in North America, operating several oil refineries. The company is also involved in sustainable fuel production through a joint venture.
For further details, visit PBF Energy Press Release.
