DALLAS -- (Business Wire)
Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership”) announced
today that it has established a continuous offering program under which
the Partnership may issue and sell from time to time to or through
Citigroup, BofA Merrill Lynch and Goldman, Sachs & Co. (collectively,
the “Managers”), as sales agents or principals, common units
representing limited partner interests in the Partnership of up to an
aggregate gross sales amount of $200,000,000.
The Partnership intends to use the net proceeds from any sales under the
program, after deducting Managers’ commissions and the Partnership’s
offering expenses, for general partnership purposes, which may include
funding working capital, repayment of debt, acquisitions and capital
expenditures.
The common units will be offered and sold pursuant to an effective shelf
registration statement on Form S-3 previously filed with the Securities
and Exchange Commission. Copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be obtained
free of charge on the Securities and Exchange Commission’s website at www.sec.gov
under the Partnership’s name or from the Managers as follows:
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island
Avenue
Edgewood, New York 11717
Telephone: (800) 831-9146
(toll free)
E-mail: prospectus@citi.com
BofA Merrill Lynch
NC1-004-03-43
200 North College Street, 3rd
Floor
Charlotte, NC 28255-0001
Attn: Prospectus Department
E-mail:
dg.prospectus_requests@baml.com
Goldman, Sachs & Co.
200 West Street
New York, New York
10282
Attention: Prospectus Department
Telephone: (866)
471-2526
E-mail: prospectus-ny@ny.email.gs.com
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of a prospectus
supplement and accompanying base prospectus.
About Holly Energy Partners, L.P.
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides
petroleum product and crude oil transportation, terminalling, storage
and throughput services to the petroleum industry, including
HollyFrontier Corporation subsidiaries. The Partnership owns and
operates petroleum product and crude gathering pipelines, tankage and
terminals in Texas, New
Mexico, Arizona, Washington, Idaho, Oklahoma, Utah, Wyoming and Kansas as
well as refinery processing units in Kansas. In addition, the
Partnership owns a 75% interest in UNEV Pipeline, LLC, the owner of
a Holly Energy operated refined products pipeline running from Woods
Cross, Utah to Las Vegas, Nevada, and related product terminals, a 50%
interest in Osage Pipe Line Company, LLC, which owns a 135-mile crude
oil pipeline from Cushing, Oklahoma to El Dorado, Kansas, a 50% interest
in Frontier Pipeline Company, which owns a 289-mile crude oil pipeline
from Casper, Wyoming to Frontier Station, Utah and a 25% interest in SLC
Pipeline LLC which owns a 95-mile intrastate pipeline system serving
refineries in the Salt Lake City, Utah area.
The statements in this press release relating to matters that are not
historical facts are “forward-looking statements” within the meaning of
the federal securities laws. Forward-looking statements use words such
as “anticipate,” “project,” “expect,” “plan,” “goal,” “forecast,”
“intend,” “should,” “would,” “could,” “believe,” “may,” and similar
expressions and statements regarding our plans and objectives for future
operations. These statements are based on our beliefs and assumptions
and those of our general partner using currently available information
and expectations as of the date hereof, are not guarantees of future
performance and involve certain risks and uncertainties. Although we and
our general partner believe that such expectations reflected in such
forward-looking statements are reasonable, neither we nor our general
partner can give assurance that our expectations will prove to be
correct. All statements concerning our expectations for future results
of operations are based on forecasts for our existing operations and do
not include the potential impact of any future acquisitions. Our
forward-looking statements are subject to a variety of risks,
uncertainties and assumptions. If one or more of these risks or
uncertainties materialize, or if underlying assumptions prove incorrect,
our actual results may vary materially from those anticipated,
estimated, projected or expected. Certain factors could cause actual
results to differ materially from results anticipated in the
forward-looking-statements. These factors include, but are not limited
to:
-
risks and uncertainties with respect to the actual quantities of
petroleum products and crude oil shipped on our pipelines and/or
terminalled, stored and throughput in our terminals;
-
the economic viability of HollyFrontier Corporation, Alon USA,
Inc. and our other customers;
-
the demand for refined petroleum products in markets we serve;
-
our ability to purchase and integrate future acquired operations;
-
our ability to complete previously announced or contemplated
acquisitions;
-
the availability and cost of additional debt and equity financing;
-
the possibility of reductions in production or shutdowns at refineries
utilizing our pipeline and terminal facilities;
-
the effects of current and future government regulations and policies;
-
our operational efficiency in carrying out routine operations and
capital construction projects;
-
the possibility of terrorist attacks and the consequences of any such
attacks;
-
general economic conditions; and
-
other financial, operational and legal risks and uncertainties
detailed from time to time in our Securities and Exchange
Commission filings.
The forward-looking statements speak only as of the date made and, other
than as required by law, we undertake no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160510005870/en/
Contacts:
Holly Energy Partners, L.P.
Richard L. Voliva III, 214-954-6511
Vice
President and Chief Financial Officer
or
Julia Heidenreich,
214-954-6511
Vice President, Investor Relations
or
Craig
Biery, 214-954-6511
Investor Relations
Source: Holly Energy Partners, L.P.
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