Oil refiner Delek US slides after unveiling $400 mln convertible bond offering

** Shares of oil refiner Delek US Holdings DK.N slide 8.3% to $66.25 before the bell on Thurs as it seeks capital raise

** DK announces private offering of $400 mln convertible bonds (CBs) due Nov 1, 2031

** Co intends to use net proceeds for general corporate purposes, including partial repayment of term loan

** It also plans to use some proceeds to fund capped calls, derivative transactions employed to offset potential dilution

** Brentwood, Tennessee-based DK has ~$4.4 bln market cap

** DK stock, which has fallen past four sessions, had surged ~144% YTD through Weds. It hit record intraday high of $82.27 on Fri

** Of 13 analysts, 7 rate the stock "strong buy" or "buy", 5 "hold" and 1 "sell"; median PT of $72 up from $62 a month ago and $50 on Jun 24, per LSEG