Par Pacific Issues $500M Notes, Expands ABL to $1.8B, Repays Debt

Par Pacific Holdings, Inc. announced that its wholly owned subsidiary, Par Petroleum, LLC, completed a private placement of $500 million in 7.375% Senior Notes due 2034. Concurrently, the company increased and extended its Asset-Based Revolving Credit Facility to $1.8 billion, with a new maturity date of May 14, 2031. The net proceeds from the notes offering, along with cash on hand and ABL borrowings, were used to repay and terminate Par Petroleum's term loan due 2030.