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Par Pacific Announces Pricing of Private Placement of $500 Million of 7.375% Senior Notes due 2034

PARR
  • Par Pacific Holdings, Inc. priced a private placement of $500 million in 7.375% senior unsecured notes due June 1, 2034, pursuant to Rule 144A & Regulation S.
  • The notes were issued at par & will be fully guaranteed by Par Pacific & its subsidiaries that guarantee the ABL Credit Facility.
  • The offering is expected to close on May 14, 2026, subject to customary closing conditions.
  • Net proceeds will be used to repay & terminate Par Petroleum's term loan due 2030, potentially using cash on hand or borrowings under the ABL Credit Facility.
  • The securities are unregistered & offered only to qualified institutional buyers under Rule 144A & non-U.S. persons under Regulation S.
  • Par Pacific operates 219,000 bpd refining capacity across Hawaii, the Pacific Northwest, & the Rockies, along with 13 million barrels of storage & retail brands Hele & nomnom.
  • The company holds a 46% ownership stake in Laramie Energy, LLC, a natural gas producer in Western Colorado.