Latham & Watkins Advises on HF Sinclair’s US$1.4 Billion Senior Notes Offering and US$1.05 Billion Tender Offer

HF Sinclair Corporation (NYSE: DINO), an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and lubricants, and other specialty products, has announced that it has priced an offering of US$1.4 billion aggregate principal amount of its senior notes, consisting of US$650 million aggregate principal amount of 5.750% senior notes due 2031 and US$750 million aggregate principal amount of 6.250% senior notes due 2035. The notes offering is expected to close on January 23, 2025, subject to the satisfaction of customary closing conditions. The company has also announced a cash tender offer of up to US$1.05 billion of certain of its and its subsidiaries’ existing notes. The cash tender offer is subject to certain closing conditions, including the closing of the notes offering.

Latham & Watkins LLP represented the underwriters in the offerings and the dealer managers in connection with the tender offer with a capital markets team led by partners Erika Weinberg and Greg Rodgers, with associates Robyn Sablove, Alex Gulino, and Nick Massoni. Advice was also provided on tax matters by partners Tim Fenn and Jared Grimley, with associate Molly Elkins; on environmental matters by partner Gary Gengel, with associate Tal Carmeli; on oil and gas matters by partner Joshua Marnitz, with associate Tal Carmeli; and on energy regulatory and markets matters by partners Tyler Brown and Patrick Nevins.