PBF Energy slips from record after $500 mln notes deal unveiled

** Oil refiner PBF Energy's PBF.N shares reverse premarket gains and last down 2.7% at $76.19 in early Mon trading as it seeks capital raise

** Parsippany, New Jersey-based PBF announces private offering of $500 mln exchangeable notes due Jan 15, 2032

** Co intends to use net proceeds to fully repay/redeem its 7.875% unsecured notes due 2030

** Also intends to use some proceeds to fund capped call transactions, employed to help mitigate potential dilution

** PBF had about $9.3 bln market cap through Fri

** PBF shares on Fri hit all-time intraday peak of $82.61 and notched record high close of $78.30

** Even with the decline on Mon, stock has surged about 180% YTD, well outpacing 46.5% advance in S&P 400 Energy index .SPMDCEN

** Avg rating of 14 analysts is "hold"; median PT of $69 up from $43 on Jun 14, per LSEG