HF Sinclair(DINO) Prnewswire·2025-01-08 14:35Tender Offer Details - HF Sinclair Corporation has commenced a cash tender offer to purchase outstanding notes for an aggregate purchase price of up to $900 million, excluding accrued interest [1] - The tender offer prioritizes the purchase of notes in the order specified, with a cap on the 2027 Notes set at $150 million [1][2] - The total consideration for each $1,000 principal amount of notes tendered before the Early Tender Deadline includes a $30 premium and is calculated based on the yield of the applicable U S Treasury Security plus a fixed spread [10] Acceptance Priority and Settlement - Notes will be accepted based on their Acceptance Priority Level, with Level 1 being the highest priority and Level 3 the lowest [4] - The Early Tender Deadline is January 23, 2025, and the Expiration Date is February 7, 2025, unless extended [9] - The Early Settlement Date is expected to be January 28, 2025, and the Final Settlement Date is expected to be February 11, 2025 [11] Conditions and Flexibility - The tender offer is subject to conditions, including the receipt of sufficient proceeds from a concurrent public offering of senior debt securities [7] - The company reserves the right to modify the Maximum Aggregate Purchase Price and the 2027 Notes Tender Cap at any time [8] - The company may purchase additional notes in the open market or through other means in the future, which could affect the price of remaining notes [15] Company Overview - HF Sinclair Corporation is an independent energy company headquartered in Dallas, Texas, producing and marketing high-value light products such as gasoline, diesel fuel, and renewable diesel [19] - The company operates refineries in multiple states and markets its products primarily in the Southwest U S , the Rocky Mountains, and the Pacific Northwest [19] - HF Sinclair also produces renewable diesel at facilities in Wyoming and New Mexico and markets specialized lubricants globally [19]