Nov 2 - Crude pipeline and storage company Holly Energy Partners LP (HEP.N) said it plans to sell 1.9 million common units in a public offering, and use a portion of the proceeds to fund its asset purchase at a Tulsa refinery.
Units of Dallas, Texas-based Holly Energy fell 5 percent to $35.70 in after-hours trade. They closed at $37.67 Monday on the New York Stock Exchange.
Last month, Holly Energy Partners, a Holly Corp (HOC.N) affiliated mid-stream master limited partnership, said it would buy certain logistics and storage assets at Sinclair Oil Corp's Tulsa refinery in Oklahoma.
Oil refiner Holly Corp had agreed to buy Sinclair's refinery in Tulsa for $128.5 million in a cash-and-stock deal.
Goldman Sachs and UBS Investment Bank are the joint managers for the offering, the company said.
Units of Dallas, Texas-based Holly Energy fell 5 percent to $35.70 in after-hours trade. They closed at $37.67 Monday on the New York Stock Exchange.
Last month, Holly Energy Partners, a Holly Corp (HOC.N) affiliated mid-stream master limited partnership, said it would buy certain logistics and storage assets at Sinclair Oil Corp's Tulsa refinery in Oklahoma.
Oil refiner Holly Corp had agreed to buy Sinclair's refinery in Tulsa for $128.5 million in a cash-and-stock deal.
Goldman Sachs and UBS Investment Bank are the joint managers for the offering, the company said.
