Bullish indicating open at $55-$60, IPO prices at $37
DALLAS - HF Sinclair Corporation (NYSE and NYSE Texas:DINO) announced Monday it has commenced a cash tender offer to purchase any and all of its outstanding 5.875% Senior Notes due 2026 and 6.375% Senior Notes due 2027. The company, with a market capitalization of $8.15 billion, maintains strong liquidity with current assets exceeding short-term obligations at a ratio of 1.82.
The tender offer targets $153.6 million in principal amount of the 2026 notes and $249.9 million of the 2027 notes. It will expire at 5:00 p.m., New York City time, on August 15, 2025, unless extended or terminated earlier.
The purchase price for each series will be determined by reference to a fixed spread over U.S. Treasury securities, with pricing set to occur at 2:00 p.m., New York City time, on August 15, 2025. HF Sinclair expects to settle the tender offer on August 20, 2025.
The tender offer is contingent upon HF Sinclair receiving sufficient proceeds from a concurrent public offering of senior debt securities. The company may waive conditions or extend the tender offer at its discretion.
Citigroup, Citizens Capital Markets and Mizuho are serving as lead dealer managers for the tender offer, with D.F. King & Co. acting as the tender and information agent.
HF Sinclair, headquartered in Dallas, is an independent energy company that produces and markets refined petroleum products. The company owns and operates refineries in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah, and supplies fuels to more than 1,700 branded stations while licensing the Sinclair brand to over 300 additional locations throughout the country.
The announcement was made in a press release statement from the company.
In other recent news, HF Sinclair Corporation reported strong earnings for the second quarter of 2025, with adjusted earnings per share (EPS) of $1.70, significantly exceeding analyst expectations of $1.05. This represents a 61.9% surprise in EPS. The company’s revenue was reported at $6.78 billion, aligning with projections. Mizuho responded by raising its price target for HF Sinclair from $50 to $52, maintaining an Outperform rating on the stock. The increase in the price target was attributed to strong performance in HF Sinclair’s Refining segment, which offset weaker-than-expected results in the Lubricants division and slightly lower-than-expected performance in Midstream and Marketing operations. These developments highlight the company’s robust financial performance and strategic positioning.
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