HollyFrontier offers 101 for Frontier Oil's 8½% notes, 6 7/8% notes

By Angela McDaniels

Tacoma, Wash., July 8 - HollyFrontier Corp. said the holders of Frontier Oil Corp.'s $200 million of 8½% senior notes due 2016 and $150 million of 6 7/8% senior notes due 2018 have the right to require HollyFrontier to repurchase those notes at 101% of par plus accrued interest.

HollyFrontier, formerly Holly Corp., changed its name and assumed the notes after acquiring Frontier Oil on July 1, according to an 8-K filing with the Securities and Exchange Commission.

HollyFrontier must mail notices of its offer to repurchase the Frontier notes to noteholders within 30 days following the merger.

HollyFrontier is a Dallas-based petroleum refiner. Frontier Oil is a Houston-based oil refiner and wholesaler of refined petroleum products.

© 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.