PBF Energy spinoff PBF Logistics sets terms for $275 million IPO

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PBF Logistics, an MLP formed by PBF Energy to operate oil and refined petroleum logistics assets, announced terms for its IPO on Wednesday. The Parsippany, NJ-based company plans to raise $275 million by offering 13.8 million shares (4% insider) at a price range of $19 to $21. At the midpoint of the proposed range, PBF Logistics would command a market value of $635 million.

PBF Logistics, which was founded in 2011 and booked $51 million in pro forma sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol PBFX. PBF Logistics initially filed confidentially on August 1, 2013. Barclays, UBS Investment Bank, Citi, Credit Suisse, Deutsche Bank, Morgan Stanley and Wells Fargo are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: PBFX

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