Delek US Shares Drop After Proposed $400 Million Offering of Notes
By Chris Wack
Shares of Delek US Holdings dropped after the company said it intends to offer $400 million of convertible senior notes due 2031 in a private offering.
The stock was 8% lower, at $66.42, in premarket trading Thursday.
The company said the notes will be fully and unconditionally guaranteed, on a senior unsecured basis, by each subsidiary of the company that guarantees its senior secured term loan facility or asset-based revolving credit facility.
Delek US said it intends to grant the initial purchasers of the notes an option to buy up to an additional $60 million of notes within a 13-day period beginning on, and including, the initial closing date of the offering.
The notes will be senior unsecured obligations of the company, and will mature Nov. 1, 2031, unless earlier converted, redeemed or repurchased.
The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the offering.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 24, 2026 08:24 ET (12:24 GMT)
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