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HF Sinclair Corporation Announces Pricing of Senior Notes Offering

Deals & Cases

January 24, 2025 • 1-minute read

Vinson & Elkins represented HF Sinclair Corporation (“HF Sinclair”) in the issuance of $1.4 billion aggregate principal amount of senior notes, consisting of $650 million aggregate principal amount of 5.750% Senior Notes due 2031 (the “2031 Notes”) and $750 million aggregate principal amount of 6.250% Senior Notes due 2035 (the “2035 Notes,” and together with the 2031 Notes, the “Notes”) in a registered offering.

The Notes were issued at par for net proceeds of approximately $1.38 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. HF Sinclair intends to use the net proceeds from the offering of the Notes to repay all outstanding borrowings under the revolving credit agreement of its wholly owned subsidiary, Holly Energy Partners, L.P. and to fund the concurrent tender offer for cash of up to $1.05 billion of outstanding senior notes of HF Sinclair and its wholly owned subsidiary HollyFrontier Corporation. The concurrent tender offer is expected to close on February 11, 2025.

The Vinson & Elkins team was led by partners Katherine Frank and David Stone, with assistance from associates Nick Wetzeler, Leah Powers, Janae Wilson, and Olivia Cahill. Also advising were partners Wendy Salinas and Ryan Carney and associate Katie Dillard; partner Mike Bielby and associates Jalee Blackwell and Brad Rossiter; and partner Matt Dobbins and associate Alyssa Sieja.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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