Delek Group ADR

Delek US Holdings reorganized its term loan, reduced outstanding borrowings to $850 million, extended the maturity by six years and lowered the interest rate (option of Term SOFR +300 basis points or base rate +200 basis points). MUFG Bank was appointed as administrative agent and U.S. Bank Trust Company as collateral trustee; the facility remains secured by liens and guarantees of the domestic subsidiaries. The refinancing was funded with proceeds from the facility and available cash; analysts subsequently raised price targets and, after strong gains, the stock most recently traded around $44.81. » More on de.investing.com