Holly Energy $150 million 10-year notes talked 6¼% area, to price Friday afternoon

By Paul A. Harris

St. Louis, Feb. 10 - Holly Energy Partners LP's $150 million offering of 10-year senior notes (Ba3/B+) is talked for a yield in the 6¼% area, according to a syndicate source.

Pricing is expected early Friday afternoon.

UBS Investment Bank has the books for the Rule 144A with registration rights offering. Banc of America Securities LLC and Goldman Sachs & Co. are joint bookrunners.

Proceeds will be used to help fund the acquisition of pipeline and terminal assets of Alon USA for $120 million in cash and 937,500 Holly Energy Partners class B subordinated units, and to repay debt.

Holly Energy is a Dallas-based provider of refined petroleum product transportation and terminal services to the petroleum industry.

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