Holly Energy Partners LP
Description
Holly Energy Partners LP said that it and its wholly owned subsidiary, Holly Energy Finance Corp. intend to offer $500 million in aggregate principal amount of senior notes due 2028 in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended to eligible purchasers. The 2028 notes will initially be guaranteed on a senior unsecured basis by the partnership’s existing wholly-owned 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 and pay related expenses.