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Delek Logistics Partners, LP Launches Initial Public Offering

BRENTWOOD, Tenn. October 25, 2012—Delek Logistics Partners, LP (“Delek Logistics”), a Delaware limited partnership, announced today that it has commenced an initial public offering of 8,000,000 common units representing limited partner interests in Delek Logistics pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (“SEC”). Delek Logistics intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common units. The common units being offered to the public have been approved for listing on the New York Stock Exchange and will be traded under the symbol “DKL,” subject to official notice of issuance.
The common units being offered to the public represent a 32.7% limited partner interest in Delek Logistics, or a 37.6% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units. Affiliates of Delek US Holdings, Inc. (NYSE: DK) will hold a 2% general partner interest and a 65.3% limited partner interest in Delek Logistics, or a 60.4% limited partner interest if the underwriters exercise, in full, their option to purchase additional units.
BofA Merrill Lynch, Barclays, Goldman, Sachs & Co. and Wells Fargo Securities are acting as joint book-running managers for the offering. Deutsche Bank Securities, Raymond James and Simmons & Company International are acting as co-managers. This offering of common units will be made only by means of a prospectus. When available, a written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained through:

BofA Merrill Lynch
Prospectus Department
222 Broadway, 7th Floor
New York, NY 10038
(212) 449-1000
dg.prospectus_requests@baml.com

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-888-603-5847
barclaysprospectus@broadridge.com


Goldman, Sachs & Co.
Prospectus Department
200 West Street
New York, NY 10282
Telephone: 1-866-471-2526
prospectus-ny@ny.email.gs.com


Wells Fargo Securities
Equity Syndicate Department
375 Park Avenue
New York, NY 10152
Telephone: 1-800-326-5897
cmclientsupport@wellsfargo.com

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC’s website at www.sec.gov under the registrant’s name. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the federal securities laws. These statements contain words such as “possible,” “intend,” “will,” “if” and “expect” and can be impacted by numerous factors, including the risk that an initial public offering of Delek Logistics may not occur, risks relating to the securities markets generally, the impact of adverse market conditions affecting business of Delek Logistics, adverse changes in laws including with respect to tax and regulatory matters and other risks. There can be no assurance that actual results will not differ from those expected by management of Delek Logistics. Delek Logistics undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof.
About Delek Logistics Partners, LP
Delek Logistics Partners, LP was formed by Delek US Holdings, Inc. (NYSE: DK) to own, operate, acquire and construct crude oil and refined products logistics and marketing assets. Delek Logistics’ initial assets will consist of:

  1. Approximately 200 miles of transportation pipelines and a 600 mile crude oil gathering system, in addition to associated storage facilities with 1.4 million barrels of active shell capacity supporting Delek US’ El Dorado and Tyler refineries;
  2. The Paline pipeline, a 185 mile crude oil pipeline from Longview to Nederland, Texas;
  3. Delek US’ wholesale marketing business in Texas; and
  4. Five light product terminals, consisting of the Abilene, Big Sandy and San Angelo terminals in Texas, as well as the Nashville and Memphis terminals in Tennessee.

Contacts
Delek Logistics GP, LLC
Assi Ginzburg, 615-224-1158
Executive Vice President
or

 

Keith Johnson
Delek US Holdings, Inc.
Vice President of Investor Relations
615-435-1366

or
Alpha IR Group
Chris Hodges, 312-589-3505
Founder & CEO