HF Sinclair completes acquisition of Holly Energy Partners for 0.3150 shares + $4.00 cash per unit

HF Sinclair Corp

Merger effective December 1, 2023; each HEP common unit converted into 0.3150 DINO shares plus $4.00 cash, no interest.
HEP common units will be delisted from NYSE; HEP ceases to be a publicly traded partnership.
HF Sinclair CEO Tim Go says deal advances strategy of integrating and optimizing combined assets.
Credit Agreement Amendment: Parent guaranty added; subsidiary guaranties and certain reporting/covenant restrictions eliminated.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HF Sinclair Corp entered into Amendment No. 3 to Third Amended and Restated Credit Agreement with Wells Fargo Bank, National Association valued at amends certain terms of Third Amended and Restated Credit Agreement dated July 27, 2017 (effective 2023-12-01).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: amends certain terms of Third Amended and Restated Credit Agreement dated July 27, 2017
Effective: 2023-12-01

Exact text from the filing

On December 1, 2023, the Partnership, as borrower, Parent, as parent guarantor, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent and an issuing bank, and the financial institutions party thereto as lenders entered into that certain Amendment No. 3 to Third Amended and Restated Credit Agreement (the “Amendment”), which amended certain terms of that certain Third Amended and Restated Credit Agreement, dated as of July 27, 2017 by and among the Partnership, as borrower, Wells Fargo, as administrative agent and an issuing bank, and each of the financial institutions party thereto from time to time as lenders

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Source: SEC EDGAR

accession 0001193125-23-287462

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