Delek US Holdings, Inc. 8-K

What Happened
Delek US Holdings, Inc. announced on May 15, 2026 that it closed Amendment No. 1 to its Amended and Restated Term Loan Credit Agreement (originally dated November 18, 2022). The amendment refinanced the company’s existing term loan using proceeds under the amended facility and cash on hand, reducing outstanding term loans to an aggregate principal amount of $850.0 million. MUFG Bank, Ltd. became administrative agent and U.S. Bank Trust Company, National Association became collateral agent, replacing Wells Fargo Bank, N.A.

Key Details

• Outstanding term loans reduced to $850.0 million as of the May 15, 2026 closing date.
• Maturity extended to six years from the Closing Date (i.e., maturity = May 15, 2032).
• Interest rate options on borrowings (company’s election): term SOFR + 300 basis points or base rate + 200 basis points (Amendment lowers the prior rates).
• The facility is secured and guaranteed: second-priority liens on receivables/inventory/etc. (Revolving Priority Collateral) and first-priority liens on other assets including equipment, real property and most equity interests (Term Priority Collateral); guarantees by the company’s domestic wholly-owned subsidiaries subject to customary exceptions (excludes Delek MLP and Delek MLP GP).

Why It Matters
The amendment restructures Delek’s term loan to lower borrowing costs and extend the repayment timeline, which reduces near-term refinancing pressure. The facility is secured by significant company assets and is guaranteed by most domestic subsidiaries, which affects creditor priority and the company’s capital structure. Investors should note the new interest benchmarks, the $850M principal outstanding, the six-year maturity, and the change in administrative/collateral agents; the full amendment is filed as Exhibit 10.1 to the 8-K for more detail.