05:33 PM EST, 03/07/2024 (MT Newswires) -- Delek Logistics Partners ( DKL ) said Thursday it plans to sell $120 million of common units representing limited partner interests in the company in an underwritten public offering.

The company said it intends to grant the underwriters a 30-day option to purchase up to an additional $13.5 million of common units.

It plans to use the proceeds to repay debt.

Delek US Holdings, the sponsor of Delek Logistics ( DKL ) and owner of its general partner, has indicated an interest in purchasing up to $30 million of the common units at the price to be offered to the public, it said.

Delek Logistics ( DKL ) shares fell 8% in after-hours activity.

Price: 41.2, Change: -3.35, Percent Change: -7.52