Holly Energy to repay some revolver borrowings with notes proceeds

By Sara Rosenberg

New York, March 3 - Holly Energy Partners LP plans to repay debt under its revolving credit facility using a portion of the proceeds from a $150 million senior notes offering, according to a news release.

Of the remaining proceeds, about $93 million will be used to acquire petroleum storage tanks and certain rail loading rack facilities at a Tulsa refinery and an asphalt truck loading rack and terminal building at a Lovington, New Mexico refinery from Holly Corp.

Holly is a Dallas-based provider of petroleum product and crude oil transportation, tankage and terminal services to the petroleum industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.