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UPDATE 1-Delek Logistics files for IPO of up to $135 mln
July 12, 2012 / 11:17 AM / in 5 years

UPDATE 1-Delek Logistics files for IPO of up to $135 mln

* To list on NYSE under “DKL”

* Bank of America Merrill Lynch and Barclays to underwrite IPO

July 12 (Reuters) - Delek Logistics Partners LP filed with U.S. regulators on Thursday to raise up to $135 million in an initial public offering of its common units.

Delek Logistics, a subsidiary of Delek U.S. Holdings Inc , transports, stores and markets crude oil and refined products i n southeast United States and west Texas.

Delek U.S. Holdings, which is a part of Israeli energy, real estate and insurance conglomerate Delek Group, has a market value of about $1.11 billion.

The proceeds from the IPO would be used to repay outstanding debt and fund capital expenditure, Delek Logistics said in a preliminary filing with the U.S. Securities and Exchange Commission.

Delek Logistics expects to list on the New York Stock Exchange under the symbol “DKL”. Bank of America Merrill Lynch and Barclays will underwrite the offering.

The filing did not reveal how many units the company plans to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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