HollyFrontier Corporation Announces Redemption of 8.5% Senior Notes Due 2016
HollyFrontier Corporation (as successor-in-interest to Frontier Oil
Corporation) (the "Company") (NYSE: HFC) today announced that it will
redeem all of its outstanding 8.5% Senior Notes due 2016. The aggregate
principal amount outstanding of the notes is $199,985,000. The
redemption price for the notes will be equal to 104.250% of the
principal amount thereof for a total payment to holders of the notes of
approximately $208,484,000 in aggregate. The redemption of the notes is
scheduled to occur on September 15, 2012. The Company intends to fund
the redemption with cash on hand. On and after the redemption date, the
notes will no longer be deemed outstanding, interest will cease to
accrue thereon and all rights of the holders of the notes will cease,
except for the right to receive the redemption price.
Wells Fargo Bank, National Association is the trustee for the notes and
is serving as the paying agent for this transaction. Copies of the
Notice of Redemption and additional information relating to the
redemption of the notes may be obtained from Wells Fargo Bank, National
Association, Corporate Trust Operations, MAC N9303-121, 6th
St. & Marquette Avenue, Minneapolis, MN 55479, telephone: 1-800-344-5128.
About HollyFrontier Corporation
HollyFrontier Corporation, headquartered in Dallas, Texas, is an
independent petroleum refiner and marketer that produces high value
light products such as gasoline, diesel fuel, jet fuel and other
specialty products. HollyFrontier operates through its subsidiaries a
135,000 barrels per stream day ("bpsd") refinery located in El Dorado,
Kansas, a 125,000 bpsd refinery in Tulsa, Oklahoma, a 100,000 bpsd
refinery located in Artesia, New Mexico, a 52,000 bpsd refinery located
in Cheyenne, Wyoming and a 31,000 bpsd refinery in Woods Cross, Utah.
HollyFrontier markets its refined products principally in the Southwest
U.S., the Rocky Mountains extending into the Pacific Northwest and in
other neighboring Plains states. A subsidiary of HollyFrontier also owns
a 44% interest (including the 2% general partner interest) in Holly
Energy Partners, L.P.
Information about HollyFrontier may be found on its website at http://www.hollyfrontier.com.
Julia Heidenreich, 214-871-3555
Source: HollyFrontier Corporation
News Provided by Acquire Media
Close window | Back to top