HollyFrontier to redeem all 6 7/8% notes at 103.4375 on June 17

By Angela McDaniels

Tacoma, Wash., May 18 – HollyFrontier Corp. will redeem all of its outstanding 6 7/8% senior notes due 2018, according to a company news release.

The redemption price for the notes will be 103.4375% of par plus accrued interest.

The principal amount outstanding of the notes is $150 million, and the total payment to the noteholders is $156,073,000.

The redemption is scheduled to occur on June 17.

The company plans to fund the redemption with cash on hand.

The notes were originally issued by Frontier Oil Corp., which was acquired by the company in July 2011.

HollyFrontier is a petroleum refiner and marketer based in Dallas.

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