Holly Energy intends to sell $150 million eight-year senior notes

By Paul A. Harris

St. Louis, March 3 - Holly Energy Partners, LP and Holly Energy Finance Corp. plan to sell $150 million of eight-year senior unsecured notes, according to an informed source.

UBS Investment Bank is the left bookrunner for the Rule 144A and Regulation S with registration rights offering. Bank of America Merrill Lynch and Goldman Sachs & Co. are joint bookrunners.

BBVA, Capital One, Comerica, Mitsubishi UFJ, PNC and US Bancorp are co-managers.

The notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to refinance the company's outstanding senior secured revolving credit facility and to fund the acquisition of petroleum storage tanks.

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

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