8-K

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):

February 12, 2014 (February 12, 2014)

HOLLY ENERGY PARTNERS, L.P. (Exact name of registrant as specified in its charter)
Delaware	001-32225	20-0833098
(State of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

2828 N. Harwood, Suite 1300, Dallas, Texas 75201

(Address of Principal Executive Offices)

(214) 871-3555

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR

240.14d-2(b))

[ ]    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR

240.13e-4(c))

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Item 7.01 Regulation FD Disclosure.

On February 12, 2014, Holly Energy Partners, L.P., a Delaware limited partnership (the “Partnership”), announced that the Partnership and its wholly-owned subsidiary, Holly Energy Finance Corp., a Delaware corporation, as co-issuers of their 8.25% Senior Notes due 2018 (the “Notes”), will redeem all of the outstanding Notes. The aggregate principal amount outstanding of the Notes is $150,000,000. The redemption price for the Notes will be equal to 104.125% of the principal amount thereof for a total payment to holders of the Notes of approximately $156,187,500 in aggregate. The redemption of the Notes is scheduled to occur on March 15, 2014. A copy of the Partnership’s press release announcing the redemption is attached hereto as Exhibit 99.1 and incorporated into this Item 7.01 in its entirety.

The information contained in, or incorporated into, this Item 7.01 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference to such filing.

Item 9.01 FinancialStatements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1*	Press release of the Partnership issued February 12, 2014.

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* Furnished herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HOLLY ENERGY PARTNERS, L.P.
By:	HEP LOGISTICS HOLDINGS, L.P. its General Partner
By:	HOLLY LOGISTIC SERVICES, L.L.C. its General Partner
By:	/s/ Douglas S. Aron
	Executive Vice President and  Chief Financial Officer

Date:    February 12, 2014

1

EXHIBIT INDEX

Exhibit No.	Description
99.1*	Press release of the Partnership issued February 12, 2014.

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* Furnished herewith

2

EX-99.1

Holly Energy Partners, L.P. Announces Redemption of 8.25% Senior Notes Due 2018

DALLAS, TEXAS, February12, 2014- Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership” or “Holly Energy”) today announced that the Partnership and its co-issuer, a wholly-owned subsidiary of the Partnership, will redeem all of their outstanding 8.25% Senior Notes due 2018. The aggregate principal amount outstanding of the notes is $150,000,000. The redemption price for the notes will be equal to 104.125% of the principal amount thereof for a total payment to holders of the notes of approximately $156,187,500 in aggregate. The redemption of the notes is scheduled to occur on March 15, 2014. The Partnership intends to fund the redemption with borrowings under its existing credit facility. On and after the redemption date, the notes will no longer be deemed outstanding, interest will cease to accrue thereon and all rights of the holders of the notes will cease, except for the right to receive the redemption price.

U.S. Bank National Association is the trustee for the notes and is serving as the paying agent for this transaction. Copies of the Notice of Redemption and additional information relating to the redemption of the notes may be obtained from U.S. Bank National Association, Corporate Trust Services, P.O. Box 64111, St. Paul, MN 55164-0111, telephone: 1-800-934-6802.

About Holly Energy Partners, L.P.

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, tankage and terminal services to the petroleum industry, including HollyFrontier Corporation, which currently owns a 39% interest (including a 2% general partner interest) in Holly Energy. Holly Energy owns and operates petroleum product and crude pipelines, tankage, terminals and loading facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington, Kansas, Wyoming, Idaho and Utah. In addition, Holly Energy owns a 75% interest in UNEV Pipeline, LLC, the owner of a Holly Energy operated refined products pipeline running from Salt Lake City, Utah to Las Vegas, Nevada, and related product terminals and a 25% interest in SLC Pipeline LLC, a 95-mile intrastate pipeline system serving refineries in the Salt Lake City, Utah area.

Information about Holly Energy Partners, L.P. may be found on its website at http://www.hollyenergy.com.

FOR FURTHER INFORMATION, Contact:

Holly Energy Partners, L.P.

Julia Heidenreich, Vice President, Investor Relations

Blake Barfield, Investor Relations

214-954-6511