Holly Energy to repay revolver debt with proceeds from senior notes

By Sarah Lizee

Olympia, Wash., Sept. 19 – Holly Energy Partners, LP plans to repay debt under its revolving credit agreement using proceeds from a $100 million tack-on to its 6% senior notes due 2024, according to a press release.

Amounts under the revolving credit agreement may be reborrowed to partially finance the company’s proposed transaction with Plains All American Pipeline, LP to acquire its 50% interest in Frontier Aspen LLC and its 75% interest in SLC Pipeline LLC.

Holly Energy is a Dallas-based provider of petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry.

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