DKL · Delek Logistics Partners, LP

Delek Logistics Partners, LP and its subsidiary Delek Logistics Finance Corp. are executing a liability management transaction involving a new debt issuance and a tender offer. The Partnership intends to offer $800 million in aggregate principal amount of senior notes due 2034 in a private placement exempt from registration under the Securities Act. The proceeds are specifically allocated to refinance existing nearer-term obligations, namely the repurchase of all outstanding 7.125% Senior Notes due 2028 and the partial redemption of 8.625% Senior Notes due 2029. This extends the Partnership's debt maturity profile.

Concurrently, the Issuers commenced a cash tender offer for any and all of the outstanding 7.125% Senior Notes due 2028. Holders who validly tender their Notes prior to the expiration time of 5:00 p.m. on May 11, 2026, will be entitled to receive $1,001.35 per $1,000.00 principal amount, plus accrued and unpaid interest. The tender offer is explicitly contingent upon the successful consummation of the $800 million senior notes offering, satisfying the Financing Condition. This interdependence indicates the tender offer is funded by the new issuance. The transaction is managed by Wells Fargo Securities, LLC as the Dealer Manager.