AFFILIATE NOTE PAYABLE

3 Months Ended

Mar. 31, 2017

INTERCOMPANY NOTE PAYABLE [Abstract]

AFFILIATE NOTE PAYABLE

AFFILIATE NOTES PAYABLE

As of March 31, 2017, PBF Holding had no outstanding affiliate notes payable with PBF Energy and PBF LLC ($86,298 outstanding as of December 31, 2016). The notes have an interest rate of 2.5% and a five year term but may be prepaid in whole or in part at any time, at the option of PBF Holding, without penalty or premium. Additional borrowings may be made by PBF Holding under such affiliate notes payable from time to time. In the fourth quarter of 2016, the notes were extended to 2021. In the fourth quarter of 2016, PBF LLC converted $379,947 of the outstanding notes payable from PBF Holding to a capital contribution. In the first quarter of 2017, PBF LLC converted the full amount of outstanding notes payable from PBF Holding of $86,298 to a capital contribution. Therefore, as of March 31, 2017, PBF Holding had no outstanding affiliate notes payable with PBF Energy and PBF LLC ($86,298 outstanding as of December 31, 2016).