HF Sinclair Announces Upsize of Previously Announced Cash Tender Offer to up to $1.05 Billion Aggregate Purchase Price of Debt Securities

Core Viewpoint - HF Sinclair Corporation has announced an increase in the Maximum Aggregate Purchase Price for its cash tender offer to up to $1.05 billion from the previous $900 million, aimed at repurchasing outstanding notes [1]. Summary by Relevant Sections Tender Offer Details - The Tender Offer is for outstanding notes, with specific priority levels for acceptance [2][4]. - The 2027 Notes Tender Cap represents the maximum principal amount of the 2027 Notes that will be purchased, with the Corporation reserving the right to adjust this cap [3][8]. Financial Terms - The Total Tender Offer Consideration for each $1,000 in principal amount of Notes will be determined based on a fixed spread over the yield of the applicable Reference U.S. Treasury Security [10]. - An Early Tender Premium of $30 per $1,000 principal amount will be provided for Notes tendered before the Early Tender Deadline [10]. Important Dates - The Tender Offer will expire on February 7, 2025, with an Early Tender Deadline set for January 23, 2025 [9]. - The expected Early Settlement Date is January 28, 2025, and the Final Settlement Date is anticipated to be February 11, 2025 [11]. Conditions and Prioritization - The acceptance of Notes is subject to the Maximum Aggregate Purchase Price and the 2027 Notes Tender Cap, with higher Acceptance Priority Levels being accepted first [12][14]. - The Corporation's obligation to accept Notes is conditioned upon receiving sufficient gross proceeds from a Concurrent Notes Offering [14]. Company Overview - HF Sinclair Corporation is an independent energy company that produces and markets high-value light products, operating refineries across several states and providing various petroleum-related services [17].