HF Sinclair (DINO) said late Wednesday it priced an offering of up to $1.4 billion principal amount of senior notes in two tranches.
The offering consists of $650 million principal amount of 5.75% senior notes due 2031 priced at 99.667% of par value and $750 million of 6.25% senior notes due 2035 priced at 99.475% of par value.
Net proceeds will be used to fund debt repayments, tender offers for outstanding notes, and for general corporate purposes.
Closing of the offering is expected to occur on Jan. 23, subject to customary closing condition.
Separately, the company said it upsized its cash tender offer for certain notes to up to $1.05 billion aggregate purchase price from $900 million previously.
The cash tender offer covers purchases of outstanding 6.375% senior notes due 2027, and 5.875% senior notes due 2026 issued by the company, and 5.875% senior notes due 2026 issued by HollyFrontier.
The tender offer will expire on Feb. 7 with an early tender deadline of Jan. 23.
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