HollyFrontier collects tenders for $15,000 8½% notes, no 6 7/8% notes

By Jennifer Chiou

New York, Aug. 29 - HollyFrontier Corp. announced the final results of the cash offer for its $200 million of 8½% senior notes due 2016 and its $150 million of 6 7/8% senior notes due 2018, which ended at 5 p.m. ET on Aug. 29.

The company received tenders for $15,000 of the 8½% notes and none of the 6 7/8% notes.

The company was offering 101 in cash for the notes following a change of control that occurred on July 1.

HollyFrontier will also pay accrued interest to the purchase date of Aug. 31.

As reported, the change-of-control offer was triggered when a wholly owned subsidiary of HollyFrontier merged with Frontier Oil Corp.

The company announced the start of the offer on July 8.

The notes were issued by Frontier Oil. HollyFrontier, formerly Holly Corp., changed its name and assumed the notes after the acquisition.

Wells Fargo Bank, NA (214 740-1573) was the depository and paying agent.

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

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