Senior Notes

HF Sinclair (DINO) announced final results of its cash tender offer for senior notes. Investors tendered $36.69M of 5.875% notes due 2026 and $163.84M of 6.375% notes due 2027. Acceptance for payment on August 20, 2025, is contingent on completing a concurrent public offering of senior notes expected August 18, 2025. Payout includes principal and accrued interest. The tender offer is part of HF Sinclair’s debt management strategy, aiming to extend maturities and optimize interest expenses.

Simon Property Group’s operating partnership is selling $1.5 billion in senior notes due 2030 and 2035 with a weighted average coupon of 4.775%. The offering, managed by firms like BBVA and J.P. Morgan, is expected to close on August 19, 2025. Proceeds will be used to redeem $1.1 billion in notes maturing in September 2025 and for general corporate purposes, potentially reducing unsecured debt. This move aims to optimize Simon’s debt profile amid changing interest rates. Risks include market conditions and forward-looking statements.

T-Mobile US, Inc. finalized exchange offers for Array Digital Infrastructure’s senior notes, linked to their May 2024 Securities Purchase Agreement. The offers involved exchanging old Array notes due in 2033, 2069, and 2070 for new T-Mobile USA notes with matching terms. Concurrent consent solicitations amended indentures tied to the old notes. As of August 1, 2025, the exchange was completed, with settlement expected around August 5, 2025. D.F. King & Co., Inc. managed the exchange process. The transaction is a debt restructuring, with no cash proceeds received by T-Mobile.

Macy’s, Inc. announced early results of its cash tender offer, increasing the maximum amount to $250 million. The offer targets outstanding notes and debentures, prioritizing retirement based on a predetermined hierarchy. Early tenders exceeded the initial target, and Macy’s will accept specific amounts of each series. The Early Settlement Date is set for July 29, 2025. The company plans to use proceeds from a new senior notes offering and existing cash to fund the buyback, redeem other debt, and cover related expenses.

CoreWeave (Nasdaq: CRWV) announced a private offering of $1.5 billion in senior notes due 2031, guaranteed by its subsidiaries. The AI hyperscaler intends to use the proceeds to repay debt and cover expenses, bolstering its position in the expanding AI infrastructure market. The offering targets qualified institutional buyers and non-U.S. persons, adhering to securities regulations. CoreWeave provides cloud solutions for accelerated computing and cautions investors about forward-looking statements, advising due diligence and consulting SEC filings.

TELUS Corporation has finalized pricing for its cash tender offers to repurchase outstanding notes. This strategic debt management move specifies terms for various series of senior notes maturing between 2030 and 2051. The company expects to settle these transactions on July 3, 2025. RBC Dominion Securities Inc. and others are managing the offers.

Delek Logistics Partners, LP successfully priced a $700 million offering of 7.375% senior notes due 2033. The notes, issued by Delek Logistics and its subsidiary, will be issued at par, closing June 30, 2025, and are intended to repay outstanding borrowings. This offering targets qualified institutional buyers and non-US persons. The deal highlights investor confidence in the midstream energy sector. Delek Logistics provides transportation, storage, and marketing services.

Global Partners LP plans a private offering of $400 million in senior unsecured notes due 2033 to refinance existing debt. Proceeds will fund a cash tender offer for outstanding 2027 notes, with any remaining notes redeemed around August 1, 2025. The offering is exclusively for qualified institutional buyers and non-U.S. persons. This strategic move aims to optimize Global’s capital structure and manage its debt profile.