BRENTWOOD, Tenn., Feb 25, 2010 (BUSINESS WIRE) -- Delek US Holdings, Inc. (NYSE: DK), a diversified energy company with
assets in the petroleum refining, marketing, supply and retail
industries, today announced that its wholly-owned subsidiary, Delek
Refining, Ltd., has entered into a new four-year, $300 million
asset-backed revolving credit facility ("ABL facility"). The new ABL
facility replaces the existing ABL facility which would have expired in
The ABL facility is structured to include: (i) a $300 million revolving
credit limit; (ii) a $300 million letter of credit sublimit; and (iii)
an accordion feature which permits an increase in borrowings of up to
$600 million, subject to additional lender commitments. The facility
will mature in February 2014.
The primary purpose of the ABL facility is to help finance the working
capital requirements of the Company's refining segment.
Uzi Yemin, President and Chief Executive Officer of Delek US, remarked:
"In connection with the ongoing support of our lenders, we have secured
a long-term credit facility for Delek Refining. The terms of our new ABL
facility provide us with a significant degree of financial flexibility,
as evidenced by the inclusion of an accordion feature which increases
the size of the facility from $300 million up to $600 million."
Yemin continued: "The strong indications of interest we received from
potential lenders led this deal to be oversubscribed. We believe such
interest is a testament to the financial community's continued
confidence in the stability and growth potential of our Company."
About Delek US Holdings
Delek US Holdings, Inc. is a diversified energy business focused on
petroleum refining, marketing and supply of refined products, and retail
marketing of fuel and general merchandise. The refining segment operates
a high conversion, independent refinery, with a design crude
distillation capacity of 60,000 barrels per day, in Tyler, Texas. The
marketing and supply segment markets refined products through its
terminals in Abilene, Texas and San Angelo, Texas as well as other third
party terminals. The retail segment markets gasoline, diesel and other
refined petroleum products and convenience merchandise through a network
of company-operated retail fuel and convenience stores, operated under
the MAPCO Express(R), MAPCO Mart(R) East Coast(R),
Discount Food Mart(TM) , Fast Food and Fuel(TM) and Favorite Markets(R)
SOURCE: Delek US Holdings, Inc.
Delek US Holdings, Inc.
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Director, Investor Relations/Communications
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