Holly Energy to pay down revolver debt with senior notes proceeds

By Sara Rosenberg

New York, Feb. 28 - Holly Energy Partners LP plans on repaying borrowings under its revolving credit facility using proceeds from a $300 million senior notes offering, according to a news release.

Remaining proceeds will be used to redeem 6¼% senior notes due 2015 and to repay all or some of two promissory notes totaling $72.9 million.

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

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