DK · Delek US Holdings, Inc.

Delek US Holdings successfully executed a refinancing of its term loan facility through Amendment No. 1, reducing the outstanding principal to $850 million from a higher prior amount via a combination of converted existing loans and $337.4 million in new commitments from MUFG Bank. This transaction extends the maturity by six years to 2032, providing significant debt maturity extension and liquidity relief. Interest costs were lowered to term SOFR plus 300 basis points or base rate plus 200 basis points, improving interest expense predictability and potential savings in a stable rate environment. The facility maintains a split collateral structure with second-priority liens on receivables and inventory (Revolving Priority Collateral) and first-priority on other assets including equity interests, equipment, and real property (Term Priority Collateral, excluding certain MLP subsidiaries like Delek Logistics Partners, LP). Guarantors include all wholly-owned domestic subsidiaries except MLP entities. New agents MUFG and U.S. Bank replaced Wells Fargo, with joint lead arrangers including MUFG, BofA, Citizens, Truist, and Wells Fargo Securities. Customary covenants provide standard protections for lenders while preserving operational flexibility. This refinancing strengthens the balance sheet by de-risking near-term maturities and optimizing capital structure.