Holly Energy announces $150 million note offering to back acquisition of Alon assets

By Paul A. Harris

St. Louis, Jan. 26 - Holly Energy Partners plans to make a $150 million private placement of senior unsecured notes to help fund its acquisition of the pipeline and terminal assets of Alon USA, the company said in a news release Wednesday.

Holly Energy will pay $120 million in cash and put up 937,500 Holly Energy Partners class B subordinated units.

No structure, timing or syndicate names were disclosed in the Wednesday news release, and the company did not immediately return a telephone call from Prospect News.

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

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