8-K - Delek Logistics Partners, LP | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Delek Logistics Partners, LP entered into a new $1.3 billion revolving credit facility on March 26, 2026, replacing its prior credit agreement. The new facility provides funding for working capital, permitted acquisitions, and general corporate purposes, with a maturity date of March 26, 2031, subject to certain conditions.

Key Takeaways

1The Partnership entered into a new $1.3 billion revolving credit agreement on March 26, 2026.

2The new facility replaces the prior credit agreement with Fifth Third Bank, which was repaid in full on March 26, 2026.

3The maturity date for the revolving facility is March 26, 2031, subject to certain conditions related to the Partnership's 8.625% Senior Notes due 2029.

4The facility includes an accordion feature allowing for an increase in available borrowings by the greater of $525.0 million or 100% of EBITDA, subject to conditions.

5Borrowings bear interest at either a base rate plus a margin of 0.50% to 1.50% or a term SOFR-based rate plus a margin of 1.50% to 2.50%, depending on the Total Leverage Ratio.

6The agreement contains financial covenants including a maximum Total Leverage Ratio of 5.25:1.00 (or 5.50:1.00 during Temporary Increase Periods), a maximum Senior Leverage Ratio of 3.75:1.00, and a minimum Interest Coverage Ratio of 2.00:1.00.

Current Report Details

Event Type

Material Agreement

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

is incorporated into this Item 2.03 by reference. Cautionary Statement Regarding Forward-Looking Statements This Current Report on Form 8-K contains “forward-lo

Material Agreement

Source Document

1.02

. Termination of Material Definitive Agreement. On March 26, 2026, the Partnership repaid in full all outstanding indebtedness under the Prior Credit Agreement,

Material Agreement

Source Document

9.01

. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1* Credit Agreement, dated as of March 26, 2026, by and among the Partnership,

Exhibits Only

Transaction Details

Material Agreement

Agreement: Credit Agreement
Parties: Delek Logistics Partners, LP, Truist Bank, Bank of America, N.A., Citizens Bank, N.A., The Huntington National Bank, Mizuho Bank, Ltd., MUFG Bank, Ltd., Wells Fargo Bank, N.A., Barclays Bank PLC, KeyBanc Capital Markets Inc., Regions Bank

•Revolving commitments up to $1,300.0 million
•Sublimit up to $150.0 million for letters of credit
•Sublimit up to $50.0 million for swing line loans
•Maturity date is March 26, 2031
•Accordion feature allows increase by greater of $525.0 million or 100% of EBITDA
•Interest rates: base rate plus margin 0.50% to 1.50% or term SOFR-based rate plus margin 1.50% to 2.50%
•Commitment fee on unused commitments ranges from 0.30% to 0.50%
•Financial covenants include Total Leverage Ratio ≤ 5.25:1.00 (or ≤ 5.50:1.00 during Temporary Increase Periods), Senior Leverage Ratio ≤ 3.75:1.00, Interest Coverage Ratio ≥ 2.00:1.00
•Obligations secured by first priority liens on substantially all assets of the Partnership and Guarantors
•Governed by New York law

Debt / Financing

Instrument: Revolving Credit Facility
Principal: 1300000000
Rate: Base rate plus margin 0.50% to 1.50% or term SOFR-based rate plus margin 1.50% to 2.50%
Maturity: 2031-03-26
Use of Proceeds: Repayment of outstanding borrowings under Prior Credit AgreementWorking capital purposesPermitted acquisitions, other permitted investments and related expensesGeneral corporate purposes including capital expenditures and refinancing of existing indebtednessRestricted payments permitted by the New Credit AgreementAny other purpose not expressly prohibited by the Loan Documents

Exhibits (2)

10.1

EX-10.1

8-K