Loan & DebtMay 11, 2026, 08:40 PM
Par Pacific Prices $500M Senior Unsecured Notes Due 2034
AI Summary
Par Pacific Holdings, Inc. announced that its wholly owned subsidiary, Par Petroleum, LLC, priced a private placement of $500 million in 7.375% senior unsecured notes due 2034. The notes will be issued at par and are fully guaranteed by Par Pacific. The company intends to use the net proceeds from this offering, along with cash on hand or ABL Credit Facility borrowings, to repay and terminate Par Petroleum's term loan due 2030. The offering is expected to close on May 14, 2026.
Key Highlights
- Par Petroleum, a subsidiary of Par Pacific, priced a private placement of $500 million in senior unsecured notes.
- The notes carry a 7.375% interest rate and mature on June 1, 2034.
- The notes will be issued at par and fully guaranteed by Par Pacific and its subsidiaries.
- Net proceeds will be used to repay and terminate Par Petroleum's term loan due 2030.
- The offering is expected to close on May 14, 2026, subject to customary conditions.
Price Impact
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