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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Wells Fargo Provides US$1.7 Billion in New Credit Facilities to Delek US Holdings

2018

Areas Banking and Finance Law

Summary

Delek US Holdings, Inc. (NYSE:DK) (“Delek US”) closed on a new US$1 billion senior secured revolving ABL credit facility (the “Revolver”) and a US$700.0 million senior secured term loan B (the “Term Loan” and together with the Revolver, the “Facilities”). These Facilities are expected to simplify the debt structure as they consolidate borrowings at the Delek US Holdings, Inc. level, while reducing overall interest expense. Proceeds from these Facilities will be used to repay outstanding borrowings under several debt instruments and for other corporate purposes. The joint lead arrangers and joint book runners for the Revolver were Wells Fargo Bank, National Association, Barclays Bank PLC, Regions Capital Markets, and SunTrust Robinson Humphrey, Inc.

The joint lead arrangers and joint book runners for the Term Loan were Wells Fargo Securities, LLC, Barclays Bank PLC, Regions Capital Markets, and SunTrust Robinson Humphrey, Inc. Wells Fargo Bank, National Association is the administrative agent under both the Revolver and the Term Loan.

Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing. The logistics operations consist of Delek Logistics Partners, LP. Delek US Holdings, Inc. and its affiliates also own approximately 63 percent of Delek Logistics Partners, LP. Delek Logistics Partners, LP (NYSE:DKL) is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets.

The convenience store retail business is the largest 7-Eleven licensee in the United States and operates approximately 300 convenience stores in central and west Texas and New Mexico.