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HF Sinclair Announces Final Results and Expiration of Cash Tender Offer for Debt Securities

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HF Sinclair (NYSE: DINO) announced the final results of its cash tender offer for two series of outstanding senior notes. The company received tenders of $36.69 million of its 5.875% Senior Notes due 2026 and $163.84 million of its 6.375% Senior Notes due 2027.

Subject to conditions, including completion of a concurrent public offering of senior notes expected on August 18, 2025, DINO plans to accept all validly tendered notes for payment on August 20, 2025. The payment will include accrued and unpaid interest up to the settlement date.

HF Sinclair (NYSE: DINO) ha comunicato i risultati definitivi della sua offerta in contanti per due serie di obbligazioni senior in circolazione. La società ha ricevuto adesioni per 36,69 milioni di dollari delle sue Senior Notes al 5,875% con scadenza 2026 e per 163,84 milioni di dollari delle Senior Notes al 6,375% con scadenza 2027.

Soggetto a condizioni, incluso il completamento di un collocamento pubblico contestuale di obbligazioni senior previsto per il 18 agosto 2025, DINO intende accettare tutte le note valide per il pagamento il 20 agosto 2025. Il pagamento comprenderà gli interessi maturati e non corrisposti fino alla data di regolamento.

HF Sinclair (NYSE: DINO) anunció los resultados finales de su oferta de compra en efectivo para dos series de bonos senior en circulación. La compañía recibió ofertas por 36,69 millones de dólares de sus Notas Senior al 5,875% con vencimiento en 2026 y por 163,84 millones de dólares de sus Notas Senior al 6,375% con vencimiento en 2027.

Sujeto a condiciones, incluido el cierre de una oferta pública concurrente de notas senior prevista para el 18 de agosto de 2025, DINO tiene previsto aceptar todas las notas válidamente ofrecidas para su pago el 20 de agosto de 2025. El pago incluirá los intereses devengados y no pagados hasta la fecha de liquidación.

HF Sinclair (NYSE: DINO)� � 종의 기한부 시니� 노트� 대� 현금 공개매수 최종 결과� 발표했습니다. 회사� 2026� 만기 5.875% 시니� 노트� 대� 3,669� 달러, 2027� 만기 6.375% 시니� 노트� 대� 1�6,384� 달러� 매수 청약� 접수했습니다.

동시 진행 중인 시니� 노트 공개 발행� 2025� 8� 18�� 완료되는 등의 조건� 충족되면, DINO� 유효하게 제출� 모든 노트� 2025� 8� 20�� 지급을 위해 인수� 예정입니�. 지급액에는 결제일까지 발생했으� 미지급된 이자가 포함됩니�.

HF Sinclair (NYSE: DINO) a annoncé les résultats définitifs de son offre en numéraire pour deux séries d'obligations senior en circulation. La société a reçu des souscriptions pour 36,69 millions de dollars de ses Senior Notes 5,875% échéant en 2026 et pour 163,84 millions de dollars de ses Senior Notes 6,375% échéant en 2027.

Sous réserve de conditions, y compris la réalisation d'une émission publique concomitante de notes senior prévue le 18 août 2025, DINO prévoit d'accepter tous les titres valablement offerts pour paiement le 20 août 2025. Le paiement comprendra les intérêts courus et non réglés jusqu'à la date de règlement.

HF Sinclair (NYSE: DINO) gab die Endergebnisse seines Barkaufsangebots für zwei Serien ausstehender Senior Notes bekannt. Das Unternehmen erhielt Anzeigen über 36,69 Mio. US-Dollar seiner 5,875% Senior Notes fällig 2026 und 163,84 Mio. US-Dollar seiner 6,375% Senior Notes fällig 2027.

Vorbehaltlich der Erfüllung von Bedingungen, einschließlich des Abschlusses einer gleichzeitig geplanten öffentlichen Emission von Senior Notes, die für den 18. August 2025 erwartet wird, plant DINO, alle gültig angebotenen Notes am 20. August 2025 zur Zahlung anzunehmen. Die Zahlung umfasst aufgelaufene und unbezahlte Zinsen bis zum Abrechnungstag.

Positive
  • None.
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  • Additional debt being taken through concurrent notes offering to fund tender offer
  • Significant portion ($153.19 million) of 2027 Notes remain outstanding after tender

Insights

HF Sinclair's tender offer results show modest success for 2026 notes (24% participation) but stronger results for 2027 notes (66% participation).

HF Sinclair's tender offer results reveal a strategic debt management initiative with mixed participation rates across the two targeted note series. For the 5.875% Senior Notes due 2026, only $36,687,000 of the $153,585,000 outstanding principal was tendered - representing approximately 24% participation. This relatively low participation suggests noteholders may find the current yield attractive given the notes' near-term maturity.

In contrast, the 6.375% Senior Notes due 2027 saw substantially higher participation with $163,843,000 of the $249,875,000 outstanding principal tendered - approximately 66% participation. This stronger response likely indicates the tender pricing was more favorable relative to market expectations for these longer-dated notes.

This debt refinancing, contingent on the completion of their concurrent notes offering expected on August 18, allows HF Sinclair to extend debt maturities and potentially optimize interest expenses given the current rate environment. By proactively addressing near-term maturities, the company is strengthening its debt profile and financial flexibility.

The tender process is being managed by multiple financial institutions (Citigroup, Citizens Capital Markets, and Mizuho), suggesting a sophisticated approach to this capital markets transaction. Overall, this represents standard corporate finance activity aimed at optimizing HF Sinclair's capital structure as part of prudent financial management.

DALLAS, Aug. 15, 2025 (GLOBE NEWSWIRE) -- HF Sinclair Corporation (NYSE and NYSE Texas: DINO) (the “Corporation�) today announced the final results and expiration of its previously announced cash tender offer (the “Tender Offer�) to purchase any and all of its outstanding notes listed in the table below (collectively, the “Notes� and each a “Series� of Notes). Capitalized terms used in this news release and not defined herein have the meanings given to them in the Offer to Purchase, dated August 11, 2025 (the “Offer to Purchase�).

According to the information provided by D.F. King & Co., Inc., the aggregate principal amount of each Series of Notes that were validly tendered and not validly withdrawn as of the Expiration Time is set forth in the table below.

Title of SecurityCUSIP(1)Aggregate Principal Amount
Outstanding Prior to the Tender Offer
Aggregate Principal Amount
Tendered(2)
5.875% Senior Notes due 2026 (the
�2026 Notes�)
403949 AB6$153,585,000$36,687,000
6.375% Senior Notes due 2027 (the
�2027 Notes�)
403949 AK6
U4322C AD5
403949 AP5
$249,875,000$163,843,000


(1)No representation is made as to the correctness or accuracy of the CUSIP numbers listed in this news release or printed on the Notes. They are provided solely for the convenience of Holders of the Notes.
(2)As reported by D.F. King & Co., Inc., the Tender and Information Agent for the Tender Offer.


The Tender Offer was made pursuant to the terms and conditions contained in the Offer to Purchase and the related Notice of Guaranteed Delivery for the Tender Offer, dated August 11, 2025.

Subject to satisfaction of the conditions to the Tender Offer, including completion of the previously announced public offering of senior notes (the “Concurrent Notes Offering�) which is expected to occur on August 18, 2025, the Corporation expects to accept for payment all Notes validly tendered pursuant to the Tender Offer and not validly withdrawn on August 20, 2025 (the “Settlement Date�). All payments for Notes purchased by the Corporation in connection with the Tender Offer will also include accrued and unpaid interest on the principal amount of Notes accepted for purchase from the last interest payment date applicable to the relevant Series of Notes up to, but not including, the Settlement Date.

Citigroup, Citizens Capital Markets and Mizuho are the Lead Dealer Managers for the Tender Offer. D.F. King & Co., Inc. is the Tender and Information Agent. Persons with questions regarding the Tender Offer should contact Citigroup Global Markets Inc. at +1 (800) 558-3745 (toll free) or +1 (212) 723-6106 or [email protected], Citizens JMP Securities, LLC at [email protected], or Mizuho Securities USA LLC at +1 (866) 271-7403 (toll free) or +1 (212) 205-7741. Questions regarding the tendering of Notes and requests for copies of the Offer to Purchase and Notice of Guaranteed Delivery and related materials should be directed to D.F. King & Co., Inc. at (212) 931-0865 (for banks and brokers) or (800) 949-2583 (all others, toll-free) or email . Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: .

This news release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Tender Offer is made only by the Offer to Purchase and Notice of Guaranteed Delivery and the information in this news release is qualified by reference to the Offer to Purchase. There is no separate letter of transmittal in connection with the Offer to Purchase. None of the Corporation, the Corporation’s Board of Directors, the Lead Dealer Managers, the Tender and Information Agent or the trustee with respect to any Notes is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer, and neither the Corporation nor any such other person has authorized any person to make any such recommendation. Holders must make their own decision as to whether to tender any of their Notes, and, if so, the principal amount of Notes to tender.

About HF Sinclair Corporation:

HF Sinclair Corporation, headquartered in Dallas, Texas, is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and lubricants and specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah. HF Sinclair provides petroleum product and crude oil transportation, terminalling, storage and throughput services to our refineries and the petroleum industry. HF Sinclair markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states and supplies high-quality fuels to more than 1,700 branded stations and licenses the use of the Sinclair brand to more than 300 additional locations throughout the country. HF Sinclair produces renewable diesel at two of its facilities in Wyoming and also at its facility in New Mexico. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries.

FOR FURTHER INFORMATION, Contact:
Craig Biery, Vice President, Investor Relations
HF Sinclair Corporation
214-954-6510

Cautionary Statement Regarding Forward-Looking Statements:

The following is a “safe harbor� statement under the Private Securities Litigation Reform Act of 1995: The statements in this news release relating to matters that are not historical facts, including those regarding the Concurrent Notes Offering and the use of proceeds therefrom, and the Tender Offer and the timing and outcome thereof, are “forward-looking statements� that involve certain risks and uncertainties that could cause actual outcomes and results to materially differ from what is expressed, implied or forecast in such statements. Any differences could be caused by a number of factors, including, but not limited to, the ability to complete the Concurrent Notes Offering, general market conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Corporation’s SEC filings. All forward-looking statements included in this news release are expressly qualified in their entirety by the foregoing cautionary statements. 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.


FAQ

What is the total amount of notes tendered in HF Sinclair's (DINO) tender offer?

HF Sinclair received tenders totaling $200.53 million, comprising $36.69 million of 2026 Notes and $163.84 million of 2027 Notes.

When is the settlement date for HF Sinclair's (DINO) tender offer?

The settlement date is scheduled for August 20, 2025, subject to conditions including completion of the concurrent notes offering.

What interest rates are being tendered in HF Sinclair's (DINO) offer?

The tender offer includes 5.875% Senior Notes due 2026 and 6.375% Senior Notes due 2027.

How many branded stations does HF Sinclair (DINO) operate?

HF Sinclair supplies fuels to more than 1,700 branded stations and licenses the Sinclair brand to over 300 additional locations throughout the country.

What are the conditions for HF Sinclair's (DINO) tender offer completion?

The main condition is the completion of the concurrent public offering of senior notes, which is expected to occur on August 18, 2025.
HF Sinclair Corp

NYSE:DINO

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8.43B
170.33M
8.89%
86.17%
4.8%
Oil & Gas Refining & Marketing
Pipe Lines (no Natural Gas)
United States
DALLAS