By Aleesia Forni
New York, March 15 – HollyFrontier Corp. sold a downsized $250 million issue of 5.875% 10-year senior notes (Baa3/BBB-) on Tuesday at Treasuries plus 400 basis points, according to an informed source.
Pricing was at 99.326 to yield 5.965%.
The notes were originally sized at $500 million and talked at Treasuries plus 387.5 bps to 400 bps. Price talk was later revised to Treasuries plus 400 bps.
BofA Merrill Lynch, Citigroup Global Markets Inc., MUFG and Wells Fargo Securities LLC are the bookrunners.
Proceeds will be used for general corporate purposes.
HollyFrontier is a petroleum refiner based in Dallas.
| Issuer: | HollyFrontier Corp.
|
| Amount: | $250 million
|
| Description: | Senior notes
|
| Maturity: | April 1, 2026
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., MUFG, Wells Fargo Securities LLC
|
| Coupon: | 5.875%
|
| Price: | 99.326
|
| Yield: | 5.965%
|
| Spread: | Treasuries plus 400 bps
|
| Trade date: | March 15
|
| Settlement date: | March 22
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 400 bps, revised from Treasuries plus 387.5 bps to 400 bps
|
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