PBF Energy draws down on revolver for Martinez acquisition

Chicago, Feb. 6 – PBF Holding Co. LLC and PBF Energy Inc. announced a drawdown on the company’s revolving credit facility for purchase of the Martinez refinery from Equilon Enterprises LLC d/b/a Shell Oil Products US.

The purchase price was $960 million, decreased from an earlier amount, plus approximately $230 million for estimated hydrocarbon inventory, according to an 8-K filing with the Securities and Exchange Commission.

The transaction was financed from the existing revolver and the company’s recent $1 billion note offering along with cash.

PBF is a Parsippany, N.J.-based operator of oil refineries and related facilities.

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