HOLLY ENERGY PARTNERS, L.P. (NYSE:HEP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement.
On September 22, 2017, Holly Energy Partners, L.P. (the “Partnership”) and its wholly-owned subsidiary Holly Energy Finance Corp. (together with the Partnership, the “Issuers”) closed their previously announced offering (the “Offering”) of $100 million aggregate principal amount of 6% Senior Notes due 2024 (the “Notes”), to a Purchase Agreement, dated September 19, 2017 (the “Purchase Agreement”), among the Issuers and each of the Guarantors (defined therein), and Citigroup Global Markets Inc., as representative of the several initial purchasers named in Schedule I thereto (the “Initial Purchasers”). The Notes were an additional issue of the Partnership’s outstanding 6% Senior Notes due 2024, issued in an aggregate principal amount of $400 million on July 19, 2016 (the “Original Notes”). The Notes were be issued under the same indenture as the Original Notes and are part of the same series. The Notes were issued to a private placement transaction conducted under Rule 144A and Regulation S of the Securities Act of 1933, as amended.
The Purchase Agreement contains customary representations and warranties of the parties and indemnification and contribution provisions whereby the Partnership and the Guarantors, on the one hand, and the Initial Purchasers, on the other, have agreed to indemnify each other against certain liabilities.
A copy of the Purchase Agreement is filed herewith as Exhibit10.1. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement, a copy of which is filed as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.
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Item 1.01 |
Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. |
The information regarding the Notes set forth in Item 1.01 above is incorporated by reference into this Item 1.01.
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Item 1.01 |
Financial Statements and Exhibits. |
HOLLY ENERGY PARTNERS LP ExhibitEX-10.1 2 purchaseagreementconformed.htm EXHIBIT 10.1 Exhibit EXECUTION VERSIONHOLLY ENERGY PARTNERS,…To view the full exhibit click here
About HOLLY ENERGY PARTNERS, L.P. (NYSE:HEP)
Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals and loading rack facilities. The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington. The Company’s assets include pipelines; refined product terminals and refinery tankage, and refinery processing units. Holly Logistic Services, L.L.C. (HLS) is a subsidiary of HollyFrontier Corporation (HFC), which is the general partner of HEP and manages HEP. The Company owns and operates petroleum product and crude pipelines, terminal, tankage and loading rack facilities, and refinery processing units that support the refining and marketing operations of HFC in the Mid-Continent, Southwest and Rocky Mountain regions of the United States and Alon USA, Inc.’s (Alon) refinery in Big Spring, Texas.
