The logistics unit of Delek US Holdings has filed papers to sell its stock to the public for the first time.

Delek Logistics Partners plans to raise $135 million from its offering and will use the proceeds primarily to make a one-time payment to its parent and retire some debt. Officials say they expect to sign papers for a new $175 million revolving debt line once the offering is complete. Delek Logistics owns almost 400 miles of transportation and crude pipelines and a 600-mile crude oil gathering system as well storage facilities feeding into Delek's refineries in Texas and Arkansas, a wholesale marketing business in Texas and five light product terminals, including one in Nashville.

The new company, which was formed in April and will be managed by the Delek US executive team, posted pro forma profits of $32.6 million in 2011 on sales of $766 million. View its IPO prospectus here.

The offering is being managed by Bank of America Merrill Lynch and Barclays. Delek US officials have applied to have the logistics business listed on the New York Stock Exchange under the ticker symbol DKL.