Holly Proposes Senior Note Offering

Holly Corp. intends to commence an offering of $200 million principal amount of senior unsecured notes due 2017.
Holly intends to use the net proceeds from the offering to make post-closing inventory payments expected to be between $90 and $100 million in connection with its acquisition of the Tulsa Refinery on June 1 from Sunoco. Also, Holly intend to use the cash for general corporate purposes, including planned capital expenditures.
Dallas-based Holly is an independent petroleum refiner and marketer that produces gasoline, diesel fuel and jet fuel and lubricants. Holly operates the 85,000 BPSD refinery in Tulsa, a 100,000 BPSD refinery in Artesia, N.M. and a 31,000 BPSD refinery in Woods Cross, Utah.



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