Delek US enters $950M amended term loan, refinances existing facility, reduces debt by $300M

Delek US Holdings, Inc.

Initial principal $950M, issued with 4% OID, used to refinance prior term loan, reducing outstanding by ~$300M.
Interest rates: Base rate + 2.5% or Adjusted Term SOFR + 3.5%.
Scheduled quarterly principal payments of $2.375M; final maturity November 19, 2029.
Includes negative covenants and prepayment provisions; secured by first and second priority liens on assets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

Delek US Holdings, Inc. entered into Amended and Restated Term Loan Credit Agreement with Wells Fargo Bank, National Association, as administrative agent valued at $950 million (effective 2022-11-18).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Value: $950 million
Effective: 2022-11-18

Exact text from the filing

On November 18, 2022 (the “Closing Date”), Delek US Holdings, Inc. (the “Company”) entered into an amended and restated term loan credit agreement (the “Amended and Restated Term Loan Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent (the “Term Administrative Agent”), the Company, as borrower, and the lenders party thereto, providing for a senior secured term loan facility in an initial principal amount of $950 million (the “Term Credit Facility”).

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25 material agreements filed in the last 30 days. Browse all material agreements →

Delek US Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-288939

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