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PBF LOGISTICS LP (NYSE:PBFX) Files An 8-K Other Events

PBF LOGISTICS LP (NYSE:PBFX) Files An 8-K Other EventsItem 8.01. Other Events.

As a result of the payment on May 31, 2017 by PBF Logistics LP (the “Partnership”) of the Partnership’s distribution for the first quarter of 2017, the financial tests required for conversion of all of the Partnership’s outstanding subordinated units into common units have been satisfied.
As a result, all of the Partnership’s subordinated units, which are owned by PBF Energy Company LLC (a subsidiary of PBF Energy Inc.), have converted on a one-for-one basis into common units effective June 1, 2017. The conversion of the subordinated units does not impact the amount of cash distributions paid by the Partnership or the total number of its outstanding units. The subordinated units were issued by the Partnership in connection with its initial public offering in May 2014.
About PBF LOGISTICS LP (NYSE:PBFX)
PBF Logistics LP is engaged in the receiving, handling and transferring of crude oil and the receipt, storage and delivery of crude oil, refined products and intermediates. The Company operates through two segments: Transportation and Terminaling segment, and storage segment. The Company focuses on owning or leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. It receives, handles and transfers crude oil from sources located across the United States and Canada, and stores crude oil, refined products and intermediates for PBF Energy Inc. (PBF Energy) in support of its three refineries located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. Its assets consist of the DCR Rail Terminal, the Toledo Truck Terminal, the DCR West Rack, the Toledo Storage Facility and the Delaware City Products Pipeline and Truck Rack (collectively referred to as the Contributed Assets). PBF LOGISTICS LP (NYSE:PBFX) Recent Trading Information
PBF LOGISTICS LP (NYSE:PBFX) closed its last trading session up +0.15 at 19.75 with 79,173 shares trading hands.
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