debt
confidence high
sentiment neutral
materiality 0.70
PBF Holding to offer $500M senior notes due 2034; plans to redeem $801.6M 6% notes due 2028
PBF Holding Co LLC
- PBF Holding intends to issue $500M senior unsecured notes due 2034 in private offering; proceeds plus cash to redeem all $801.6M of 6.00% 2028 notes.
- Conditional redemption notice issued for 2028 notes at 100% of principal plus accrued interest; redemption contingent on completing $500M+ financing by June 25, 2026.
- Martinez refinery fire recovery completed; all units operational; hydrocracker turnaround rescheduled from late Q2 to late Q3 2026.
- Chalmette refinery fire on May 8 caused pre-treater damage and reformer outage; repairs started May 11, expected Q3 2026; refinery running at planned rates.
- PBF Holding had ~$550M cash as of May 7, 2026, after repaying all borrowings under its revolving credit facility.