Delek Logistics Partners LP (DKL) IPO Opens Higher

November 2, 2012 9:40 AM EDT
The IPO for Delek Logistics Partners LP (NYSE: DKL) opened for trading at $23.11 after pricing 8 million units at $21, the high end of the expected $19-$21 range.

BofA Merrill Lynch, Barclays, Goldman Sachs and Wells Fargo Securities led the deal.

Delek Logistics Partners LP isa growth-oriented Delaware limited partnership recently formed by Delek to own, operate, acquire and construct crude oil and refined products logistics and marketing assets. A substantial majority of the existing assets are integral to the success of Delek's refining and marketing operations. The company gathers, transports and stores crude oil and market, distribute, transport and store refined products in select regions of the southeastern United States and west Texas for Delek and third parties, primarily in support of Delek's refineries in Tyler, Texas and El Dorado, Arkansas.

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