Holly Energy (HEP) Prices 2M Units at $27.80/Unit
Holly Energy Partners, L.P. (NYSE: HEP) announced today the pricing of the public offering of 2,000,000 common units representing limited partner interests in the Partnership. The common units were priced at $27.80 per common unit. In connection with the offering, the Partnership granted the underwriters a 30-day option to purchase up to 300,000 additional common units.
The Partnership intends to use the net proceeds from the offering to repay indebtedness and for general partnership purposes. The Partnership expects to close the sale of the common units on May 8, 2009, subject to customary closing conditions.
Goldman, Sachs & Co. and UBS Investment Bank acted as the joint book-running managers for the offering. SMH Capital acted as co-manager.
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