On Aug. 14, 2023, Kramer Levin client PBF Energy Inc. (NYSE:PBF) announced that its indirect subsidiary, PBF Holding Company LLC, priced $500 million in aggregate principal amount of 7.88% senior notes due 2030 in a private offering pursuant to Rule 144A. PBF Holding intends to use the net proceeds from the offering, together with cash on hand, to fund the redemption of its 7.25% Senior Notes due 2025.

PBF Energy Inc. is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio.