Holly Energy Partners, L.P. Announces Proposed Offering of Senior Notes Due 2028 and Issues Notice of Conditional Redemption for its 6.0% Senior Notes due 2024
Holly Energy Partners, L.P. (HEP)
Last holly energy partners, l.p. earnings: 2/19 06:30 am
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US:NYSE Investor Relations:
investor.hollyenergy.com
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Source: Business Wire
DALLAS--(BUSINESS WIRE)--Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership”) announced today that it and its wholly owned subsidiary, Holly Energy Finance Corp. (together with the Partnership, the “Issuers”), subject to market conditions, intend to offer $500 million in aggregate principal amount of senior notes due 2028 (the “2028 Notes”) in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”) to eligible purchasers (the “Offering”). The 2028 Notes will initially be guaranteed on a senior unsecured basis by the Partnership’s existing wholly owned subsidiaries (other than Holly Energy Finance Corp. and certain immaterial subsidiaries). The Partnership intends to use the net proceeds from the Offering, together with borrowings under its revolving credit agreement, to redeem all of the Issuers’ currently outstanding 6.0% senior notes due 2024 (the “2024 Notes”) and pay related expenses. The Partnership has sepa
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