PBF Holding Prices $500M Zero-Coupon Notes to Refinance 2030 Debt
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Parsippany-Troy Hills, N.J. – September 17, 2026 -- PBF Energy Inc.'s subsidiary PBF Holding Company LLC has priced $500 million in 0% exchangeable notes due 2032, with net proceeds earmarked largely to retire its existing 7.875% Senior Unsecured Notes due 2030.
PBF Holding sets zero-coupon terms with 37.5% exchange premium
The notes, co-issued with PBF Finance Corporation, carry no regular interest and will not accrete in principal. The initial exchange price is approximately $96.80 per share, a 37.5% premium over PBF Energy's $70.40 closing share price on the New York Stock Exchange on September 14, 2026. Initial purchasers hold an option to buy up to $50 million in additional notes within 13 days of issuance.