Flint Hills Resources Houston Chemical seeks consents for 6¼% notes

New York, Oct. 7 – Flint Hills Resources Houston Chemical, LLC announced the start of a consent solicitation for its 6¼% senior notes due 2020.

The company is seeking to amend the indenture so that it can provide holders of the notes with a specified set of information rather than file reports with the Securities and Exchange Commission. Reporting of this kind would be more typical of debt securities issued in a Rule 144A for life transaction, according to the issuer.

The amendments would also remove the prohibition on the consolidation or merger into an entity that is not a corporation of FHR Houston Chemical Finance Corp. – which is a joint issuer of the notes and is jointly participating in the consent solicitation.

Holders who deliver consents will receive a payment of $5.00 per $1,000 principal amount.

The solicitation ends at 5 p.m. ET on Oct. 21. Flint Hills Resources Houston Chemical said it will execute a supplementary indenture as soon as it receives the needed consents from holders of a majority of the notes, which may be before the expiration time.

Goldman Sachs & Co. (212 902-6941 or 800 828-3182) is the solicitation agent. D.F. King & Co., Inc. is the information and tabulation agent (800 331-6359 or e-mail pdh@dfking.com).

Flint Hills Resources Houston Chemical is a Houston-based producer of propylene. It is a subsidiary of Flint Hills Resources, LLC.

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