Par Pacific Increases Term Loan by $100 Million with Amendment No. 2 –

Par Pacific Holdings, Inc. (NYSE: PARR) announced on November 18, 2024, that it has received indications of commitments from lenders to increase the size of its term loan by $100 million. This increase brings the aggregate initial principal balance to $650 million, with an outstanding principal balance of $641.750 million. The amendment to the Term Loan Credit Agreement, known as Amendment No. 2, is set to be executed around November 25, 2024, and will become effective on that date. The additional funds from this increase are intended for general corporate purposes.

The original Term Loan Credit Agreement was entered into on February 28, 2023, by Par Pacific Holdings, Inc., Par Petroleum, LLC, and Par Petroleum Finance Corp. with Wells Fargo Bank, National Association, as the administrative agent and various lenders. The initial senior secured term loan was for a principal amount of $550 million.

According to the company’s SEC filing, the amendment is subject to certain conditions and is expected to be fully detailed in an exhibit accompanying the upcoming Annual Report on Form 10-K for the year ending December 31, 2024. The company emphasized that the increase in the term loan is a significant step in fulfilling its financial strategies and obligations.

Investors were cautioned regarding forward-looking statements contained in the filing, highlighting the inherent risks associated with such statements, particularly concerning market conditions. The Company mentioned that actual results could vary from these statements due to changing conditions or assumptions.

Moreover, the Company also stated that the information in the filing will be used to satisfy the filing obligations and financial statements required for compliance.

As Par Pacific Holdings, Inc. finalizes the details of the Amendment No. 2 and continues on its financial trajectory, investors and stakeholders will be keen to observe the impact of this increased term loan on the company’s operational and strategic outlook.

The Form 8-K filing also included details regarding the creation of a direct financial obligation and the intention to file financial statements and exhibits as required.

This article is a brief summary of the 8-K SEC filing submitted by Par Pacific Holdings, Inc. for the events occurring on November 18, 2024. For a comprehensive understanding of the subject matter, readers are encouraged to refer to the original filing available on the SEC website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Par Pacific’s 8K filing here.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.