HF Sinclair and Holly Energy Partners Report Early Results of Note Exchange and Consent Solicitations, Extend Early Participation Consideration

Author: Benzinga Newsdesk | November 14, 2023 01:34am

HF Sinclair Corporation (NYSE:DINO) ("HF Sinclair") and Holly Energy Partners, L.P. (NYSE:HEP) ("HEP") today announced that as of 5:00 p.m., New York City time, on November 13, 2023 (the "Early Participation Date"), that $880,229,000 in aggregate principal amount of outstanding HEP Notes (as defined below) previously issued by HEP and Holly Energy Finance Corp. ("Finance Corp." and, together with HEP, the "HEP Issuers"), representing approximately 97.80% of the total outstanding principal amount of the HEP Notes, have been validly tendered and not validly withdrawn (and consents thereby validly given and not validly withdrawn) in connection with its previously announced private exchange offers (each an "Exchange Offer" and, collectively, the "Exchange Offers") and related consent solicitations (collectively, the "Consent Solicitations") and that the following Early Participation Exchange Consideration (as defined below) in respect of each $1,000 principal amount of such HEP Notes if accepted for purchase is to be paid:

Title of Series of HEP Notes		CUSIPs		ISIN No.		Early Participation Exchange Consideration		Principal Amount Tendered			Percentage Tendered
6.375% Senior Notes due 2027		144A: 435765AJ1 / Reg S: U4377TAG5		144A: US435765AJ10 / Reg S: USU4377TAG59		$1,000 principal amount of HF Sinclair's 6.375% Senior Notes due 2027 and $1.00 in cash		$	394,226,000		98.56%
5.000% Senior Notes due 2028		144A: 435765AH5 / Reg S: U4377TAF7		144A: US435765AH53 / Reg S: USU4377TAF76		$1,000 principal amount of HF Sinclair's 5.000% Senior Notes due 2028 and $1.00 in cash		$	486,003,000		97.20%
						Total:		$	880,229,000		97.80%

Posted In: DINO HEP