Delek to use existing credit facilities, new debt for 3Bear purchase

By Sara Rosenberg

New York, April 11 – Delek Logistics Partners LP plans to use existing credit facilities and debt financing to fund its acquisition of 3Bear Delaware Holding – NM LLC for $624.7 million, according to a news release.

Closing is expected around mid-year, subject to customary regulatory approvals.

RBC Capital Markets is serving as Delek’s financial adviser.

Delek is a Brentwood, Tenn.-based owner and operator of crude oil and refined products logistics and marketing assets. 3Bear Delaware is a crude, gas and water gathering, processing and disposal business in the Northern Delaware Basin.

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