EX-99.2
14
d725556dex992.htm
EX-99.2
EX-99.2
Exhibit 99.2
PBF Logistics LP Announces Closing of Initial Public Offering
PARSIPPANY, NJ - May 14, 2014 - PBF Logistics LP (NYSE: PBFX, "PBF Logistics"), a limited partnership formed by subsidiaries of PBF
Energy Inc. (NYSE: PBF, "PBF Energy"), today announced that it has completed its initial public offering of 15,812,500 common units representing limited partner interests, at $23.00 per unit, pursuant to a Registration Statement on Form
S-1 previously filed with the U.S. Securities and Exchange Commission ("SEC"). The number of units issued at closing included 2,062,500 common units issued pursuant to full exercise of the underwriters option to purchase additional common
units. The common units are traded on the New York Stock Exchange under the symbol "PBFX".
Net proceeds received by PBF Logistics from the sale
of the 15,812,500 common units totaled approximately $341.0 million, after deducting the underwriting discount and structuring fee, but before taking into account estimated offering expenses. As of the closing of the offering, the public owns a
49.8% limited partner interest in PBF Logistics. PBF Energy, through certain of its subsidiaries, owns the remaining limited partner interests in PBF Logistics, the non-economic general partner interest and all of the incentive distribution rights.
Barclays and UBS Investment Bank served as joint bookrunners and structuring agents of the offering. Citigroup, Credit Suisse, Deutsche Bank Securities,
Morgan Stanley and Wells Fargo Securities served as joint bookrunners of the offering.
A registration statement on Form S-1 relating to these units has
been filed with, and declared effective by, the SEC. 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 offer,
solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of common units will be made only by means of a prospectus. Copies of the final prospectus
related to the offering may be accessed through the SEC's website at
http://www.sec.gov
, or obtained from the offices listed below:
Barclays
Attention: Prospectus Department
c/o Broadridge Financial
Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll-free number: (888) 603-5847
Email:
Barclaysprospectus@broadridge.com
UBS Investment Bank
Attention: Prospectus Department
299 Park Avenue
New York, NY 10171
Toll-free number: (888) 827-7275
Citigroup
c/o
Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll-free number: (800) 831-9146
Email: batprospectusdept@citi.com
Credit Suisse
c/o Prospectus Department
One Madison Avenue, Level B1
New York, NY 10010
Toll-free number: (800) 221-1037
Email: Newyork.prospectus@credit-suisse.com
Deutsche Bank
Securities
Attention: Prospectus Group
60 Wall Street
New York, NY 10005-2836
Toll-free number: (800) 503-4611
Email: prospectus.CPDG@db.com
Morgan Stanley
Attention: Prospectus Dept.
180 Varick Street, 2nd floor
New York, NY 10014
Wells Fargo Securities
Attention: Equity Syndicate Dept.
375 Park Ave.
New York, NY 10152
Toll-free number: (800) 326-5897
Email: cmclientsupport@wellsfargo.com
PBF Logistics LP
PBF Logistics LP, headquartered in Parsippany, New Jersey, is a fee-based, growth-oriented master limited partnership formed by PBF Energy to own or
lease, operate, develop and acquire crude oil and refined petroleum products, terminals, pipelines, storage facilities and similar logistics assets.
FORWARD-LOOKING STATEMENTS
This press
release contains forward-looking statements (as that term is defined under the federal securities laws) made by the company and its management. Such statements are based on current expectations, forecasts and projections, including, but not limited
to, anticipated financial and operating results, plans, objectives, expectations and intentions that are not historical in nature. Forward-looking statements should not be read as a guarantee of future performance or results, and may not necessarily
be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking statements are based on information available at the time, and are subject to various risks and uncertainties, including the
inability to complete the initial public offering of PBF Logistics, risks relating to the securities markets generally, the impact of adverse market conditions impacting PBF Energy's and/or PBF Logistics' logistics and other assets and
other risks inherent in PBF Energy's and PBF Logistics' business. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see PBF Energy's annual reports on Form 10-K and
quarterly reports on Form 10-Q and the registration statement on Form S-1 filed by PBF
Logistics with the Securities and Exchange Commission. Forward-looking statements reflect information, facts and circumstances only as of the date they are made. Neither PBF Energy nor PBF
Logistics assumes any responsibility or obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information after such date.
###
Contacts:
Colin Murray (investors)
ir@pbfenergy.com
Tel: 973.455.7578
Michael C. Karlovich (media)
mediarelations@pbfenergy.com
Tel: 973.455.8994

EX - 99 . 2 14 d725556dex992 . htm EX - 99 . 2 EX - 99 . 2 Exhibit 99 . 2 PBF Logistics LP Announces Closing of Initial Public Offering PARSIPPANY , NJ - May 14 , 2014 - PBF Logistics LP ( NYSE : PBFX , " PBF Logistics " ) , a limited partnership formed by subsidiaries of PBF Energy Inc . ( NYSE : PBF , " PBF Energy " ) , today announced that it has completed its initial public offering of 15,812,500 common units representing limited partner interests , at $ 23.00 per unit , pursuant to a Registration Statement on Form S - 1 previously filed with the U . S . Securities and Exchange Commission ( " SEC " ) . The number of units issued at closing included 2,062,500 common units issued pursuant to full exercise of the underwriters option to purchase additional common units . The common units are traded on the New York Stock Exchange under the symbol " PBFX " . Net proceeds received by PBF Logistics from the sale of the 15,812,500 common units totaled approximately $ 341.0 million , after deducting the underwriting discount and structuring fee , but before taking into account estimated offering expenses . As of the closing of the offering , the public owns a 49 . 8 % limited partner interest in PBF Logistics . PBF Energy , through certain of its subsidiaries , owns the remaining limited partner interests in PBF Logistics , the non - economic general partner interest and all of the incentive distribution rights . Barclays and UBS Investment Bank served as joint bookrunners and structuring agents of the offering . Citigroup , Credit Suisse , Deutsche Bank Securities , Morgan Stanley and Wells Fargo Securities served as joint bookrunners of the offering . A registration statement on Form S - 1 relating to these units has been filed with , and declared effective by , the SEC . 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 offer , solicitation , or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction . Any offering of common units will be made only by means of a prospectus . Copies of the final prospectus related to the offering may be accessed through the SEC 's website at http://www.sec.gov , or obtained from the offices listed below : Barclays Attention : Prospectus Department c / o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood , NY 11717 Toll - free number : ( 888 ) 603 - 5847 Email : Barclaysprospectus@broadridge.com UBS Investment Bank Attention : Prospectus Department 299 Park Avenue New York , NY 10171 Toll - free number : ( 888 ) 827 - 7275 Citigroup c / o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood , NY 11717 Toll - free number : ( 800 ) 831 - 9146 Email : batprospectusdept@citi.com Credit Suisse c / o Prospectus Department One Madison Avenue , Level B1 New York , NY 10010 Toll - free number : ( 800 ) 221 - 1037 Email : Newyork.prospectus@credit-suisse.com Deutsche Bank Securities Attention : Prospectus Group 60 Wall Street New York , NY 10005 - 2836 Toll - free number : ( 800 ) 503 - 4611 Email : prospectus.CPDG@db.com Morgan Stanley Attention : Prospectus Dept . 180 Varick Street , 2nd floor New York , NY 10014 Wells Fargo Securities Attention : Equity Syndicate Dept . 375 Park Ave. New York , NY 10152 Toll - free number : ( 800 ) 326 - 5897 Email : cmclientsupport@wellsfargo.com PBF Logistics LP PBF Logistics LP , headquartered in Parsippany , New Jersey , is a fee - based , growth - oriented master limited partnership formed by PBF Energy to own or lease , operate , develop and acquire crude oil and refined petroleum products , terminals , pipelines , storage facilities and similar logistics assets . FORWARD - LOOKING STATEMENTS This press release contains forward - looking statements ( as that term is defined under the federal securities laws ) made by the company and its management . Such statements are based on current expectations , forecasts and projections , including , but not limited to , anticipated financial and operating results , plans , objectives , expectations and intentions that are not historical in nature . Forward - looking statements should not be read as a guarantee of future performance or results , and may not necessarily be accurate indications of the times at , or by which , such performance or results will be achieved . Forward - looking statements are based on information available at the time , and are subject to various risks and uncertainties , including the inability to complete the initial public offering of PBF Logistics , risks relating to the securities markets generally , the impact of adverse market conditions impacting PBF Energy 's and / or PBF Logistics ' logistics and other assets and other risks inherent in PBF Energy 's and PBF Logistics ' business . For more information concerning factors that could cause actual results to differ from those expressed or forecasted , see PBF Energy 's annual reports on Form 10 - K and quarterly reports on Form 10 - Q and the registration statement on Form S - 1 filed by PBF Logistics with the Securities and Exchange Commission . Forward - looking statements reflect information , facts and circumstances only as of the date they are made . Neither PBF Energy nor PBF Logistics assumes any responsibility or obligation to update forward - looking statements to reflect actual results , changes in assumptions or changes in other factors affecting forward - looking information after such date . # # # Contacts : Colin Murray ( investors ) ir@pbfenergy.com Tel : 973 . 455 . 7578 Michael C . Karlovich ( media ) mediarelations@pbfenergy.com Tel : 973 . 455 . 8994
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