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Delek Logistics Partners, LP - Tender Offer 2024 (US) - Launch

Delek Logistics Partners, LP and Delek Logistics Finance Corp. Announce Tender Offer for Any and All of their Outstanding 6.75% Senior Notes due 2025 - US24665FAB85 - US24665FAA03 (144A)

28 FEBRUARY 2024

Full announcement including disclaimers and offer restrictions available via Prnewswire: Source: Delek Logistics Partners, LP

BRENTWOOD, Tenn., Feb. 28, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") and Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the "Offerors"), announced today that they have commenced a cash tender offer (the "Offer") for any and all of their outstanding 6.75% Senior Notes due 2025 (the "Notes"), upon the terms and conditions set forth in the Offer to Purchase, dated as of February 28, 2024, and the related Letter of Transmittal and Notice of Guaranteed Delivery (the "Offer Documents"). The Offer will expire at 5:00 p.m., New York City time, on March 8, 2024, unless extended or earlier terminated (as such time may be extended, the "Expiration Time").

Holders who validly tender (and do not validly withdraw) their Notes prior to the Expiration Time, and whose Notes are accepted for purchase, will be entitled to receive the tender consideration equal to $1,000.80 per $1,000.00 principal amount of Notes accepted for purchase.

Payments for Notes purchased will include accrued and unpaid interest from and including the last interest payment date up to, but excluding, the applicable settlement date accepted for purchase. Provided the conditions to the Offer, including the Financing Condition (as defined below), have been satisfied or waived, settlement for Notes tendered prior to the Expiration Time and accepted for purchase is expected to occur on March 13, 2024.

The Offer is contingent upon, among other things, the Offerors' consummation, on terms and conditions satisfactory to the Offerors, of the concurrent bond offering announced today (the "Concurrent Offering") and the receipt of net proceeds therefrom, together with other sources of liquidity, sufficient to purchase the Notes tendered in the Offer and the fees and expenses related thereto (the "Financing Condition"). The Offer is not conditioned on any minimum amount of Notes being tendered. The Offer may be amended, extended or terminated, and any condition with respect thereto may be waived by the Offerors in their sole discretion. There is no assurance that the Offer will be subscribed for in any amount.

Substantially concurrently with the commencement of the Offer, the Offerors issued a conditional notice of full redemption to redeem all outstanding Notes not purchased in the Offer and that remain outstanding pursuant to the indenture governing the Notes. Nothing in this announcement should be construed as a notice of redemption with respect to the Notes, as any redemption will be made pursuant to a notice of redemption in accordance with the indenture governing the Notes."




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