PBF Energy (PBF) has priced $500 million of 7.25% senior notes due 2034 in a private offering, the company said late Tuesday.
The notes will be co-issued with PBF Energy's subsidiary PBF Holding, the company said, adding that PBF Holding intends to use the net proceeds from the offering to fund the redemption in full of its outstanding 6% senior notes due 2028.
The offering is slated to close on Thursday, the company added.
Shares of the company were up 1.1% in after-hours activity.
Borr Drilling's (BORR.OL) Borr IHC unit and its Borr Finance subsidiary are planning to launch an offer for a total of $1.60 billion of senior secured notes due 2032 and 2034, subject to market conditions.The drilling contractor will use the proceeds to repurchase, redeem, or refinance all its outstanding 10% senior secured notes due 2028, and up to $447.3 million of outstanding 10.375% senior secured notes due 2030, according to a Tuesday release.Pricing of the notes offering is expected by Thursday.
BP's (BP) proposed sale of its refinery and related businesses in Gelsenkirchen, Germany, to Klesch Group has been approved by the European Commission, the regulator said Tuesday.The oil and gas major announced the proposed sale in March, and said at the time that it expected the deal to increase its structural cost reduction target by around $1 billion to a range of $6.5 billion to $7.5 billion by 2027.The Commission said it believes the deal would not raise competition concerns due to the companies' "limited combined market position resulting from the proposed transaction and the companies' limited market positions."Shares of BP were down 4.5% in early trading Tuesday.