HOLLYFRONTIER CORPORATION (NYSE:HFC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
|
Entry into a Material Definitive Agreement
|
borrower, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (successor by
assignment to MUFG Union Bank, N.A.), as administrative agent,
and each of the financial institutions party thereto as lenders,
entered into that certain First Amendment to Senior Unsecured
5-Year Revolving Credit Agreement (the Amendment), which amended
certain terms of that certain Senior Unsecured 5-Year Revolving
Credit Agreement, dated as of July 1, 2014 by and among the
Company, MUFG Union Bank, N.A., as administrative agent, and each
of the financial institutions party thereto from time to time as
lenders (as amended, restated, supplemented or otherwise
modified, the Credit Agreement). to the Amendment, the maximum
commitment amount under the Credit Agreement will be increased
from>$1,000,000,000 to>$1,350,000,000, and the maturity
date will be extended to February 16, 2022.
the Companys option based on the currency of such indebtedness,
at either (a) a base rate equal to the highest of the NYFRB Rate
(as defined in the Credit Agreement) plus of 1%, the Adjusted
LIBO Rate (as defined in the Credit Agreement) plus 1% and the
prime rate (as publicly announced from time to time by the
administrative agent), as applicable, plus an applicable margin
(ranging from 0.125% to 1.000%), (b) at a rate equal to the CDOR
Rate (as defined in the Credit Agreement) plus an applicable
margin (ranging from 1.125% to 2.000%) or (c) at a rate equal to
the Adjusted LIBO Rate plus an applicable margin (ranging from
1.125% to 2.000%). The Company incurs a commitment fee on the
unused portion of the commitments (which calculation of such
unused portion excludes amounts borrowed as swingline loans
except to the extent that a lender has purchased a participation
in a swingline loan) at a rate ranging from 0.125% to 0.350%. In
each case, the applicable margin and commitment fee rate is based
upon the rating issued from time to time by Moodys and SP, as
applicable, to the Companys senior, unsecured, non-credit
enhanced long-term debt.
complete. The description of the Amendment herein is qualified by
reference to the copy of the Amendment filed as Exhibit 10.1 to
this report, which is incorporated by reference into this report
in its entirety.
Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03 by reference.
|
Exhibit No.
|
Description
|
|
|
10.1
|
First Amendment to Senior Unsecured 5-Year Revolving
Credit Agreement, dated as of February 16, 2017, among HollyFrontier Corporation, as borrower, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as administrative agent, and the lenders party thereto.* |
About HOLLYFRONTIER CORPORATION (NYSE:HFC)
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Tulsa, Navajo, Cheyenne and Woods Cross Refineries and HollyFrontier Asphalt Company (HFC Asphalt). The Company’s refinery operations serve the Mid-Continent, Southwest and Rocky Mountain regions of the United States. The HEP segment involves all of the operations of HEP. HEP is a limited partnership, which owns and operates logistic assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities and refinery processing units that principally support the Company’s refining and marketing operations. HOLLYFRONTIER CORPORATION (NYSE:HFC) Recent Trading Information
HOLLYFRONTIER CORPORATION (NYSE:HFC) closed its last trading session up +0.07 at 29.99 with 2,349,800 shares trading hands.