Holly Energy Partners LP and  Holly Energy Finance Corp. will redeem all $300 million of their outstanding 6.50% senior notes due 2020, according to a Dec. 2 press release.

With the redemption price equal to 103.250% of the principal amount, plus accrued and unpaid interest, the payment to noteholders will be about $316.4 million aggregate.

The redemption, scheduled for Jan. 4, 2017, will be funded through revolving credit agreement borrowings.

U.S. Bank NA is the trustee for the notes and the paying agent

Holly Energy Partners LP is based in Dallas.