Par Pacific Prices $500M of 7.375% Senior Notes to Refinance 2030 Term Loan
Par Pacific’s subsidiary priced $500 million of 7.375% senior unsecured notes due June 1, 2034, issued at par and expected to close on May 14, 2026. Proceeds, along with cash and ABL borrowings, will repay and terminate its term loan maturing in 2030.
1. Private Placement Details
Par Petroleum, a wholly owned subsidiary of Par Pacific, has priced $500 million of 7.375% senior unsecured notes due June 1, 2034. The notes will be issued at par and are expected to close on May 14, 2026.
2. Guarantees and Security
Each of Par Petroleum’s subsidiaries that guarantees the senior secured asset-based revolving credit facility, along with Par Pacific Holdings, will fully and unconditionally guarantee the new notes on a senior unsecured basis.
3. Refinancing and Capital Structure Impact
Net proceeds from the offering, together with cash on hand or borrowings under the ABL Credit Facility, will be used to repay and terminate the existing term loan due 2030, extending debt maturities and reducing near-term refinancing needs.