Par Pacific Holdings Enters Material Definitive Agreement

TL;DR

PARR inked a big deal, expect financial moves.

AI Summary

On March 22, 2024, Par Pacific Holdings, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware, is involved in crude petroleum and natural gas extraction.

Why It Matters

This filing indicates a significant financial commitment or obligation for Par Pacific Holdings, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Par Pacific Holdings, Inc. (company) — Registrant
• Delaware (jurisdiction) — State of Incorporation
• March 22, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock , $0.01 par value PARR New York Stock Exchan
• $1,400,000,000 — mitment under the ABL Loan Agreement to $1,400,000,000, (ii) joinder of PHR to the ABL Loan Ag

Filing Documents

• parr20240326_8k.htm (8-K) — 33KB
• ex_645502.htm (EX-10.1) — 1927KB
• img01.jpg (GRAPHIC) — 4KB
• 0001437749-24-009558.txt ( ) — 2433KB
• parr-20240322.xsd (EX-101.SCH) — 3KB
• parr-20240322_def.xml (EX-101.DEF) — 11KB
• parr-20240322_lab.xml (EX-101.LAB) — 15KB
• parr-20240322_pre.xml (EX-101.PRE) — 11KB
• parr20240326_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. Third Amendment to the ABL Loan Agreement On March 22, 2024, Par Pacific Holdings, Inc., a Delaware corporation (the " Company "), Par Petroleum, LLC, a Delaware limited liability company (" Par LLC "), Par Hawaii, LLC, a Delaware limited liability company (" Par Hawaii "), Hermes Consolidated, LLC, a Delaware limited liability company (" Hermes "), Wyoming Pipeline Company LLC, a Wyoming limited liability company (" WPC "), Par Montana, LLC, a Delaware limited liability company (" Par Montana "), Par Rocky Mountain Midstream, LLC, a Delaware limited liability company (" Par Rocky "), U.S. Oil & Refining Co., a Delaware corporation (" USOR "), Par Hawaii Refining, LLC, a Hawaii limited liability company (" PHR "), and certain wholly-owned direct or indirect subsidiaries of Par LLC, as guarantors, entered into that certain Third Amendment to Asset-Based Revolving Credit Agreement and Joinder Agreement, dated as of March 22, 2024 (the " Third ABL Amendment "), with Wells Fargo Bank, National Association, as administrative agent and collateral agent (in such capacity, the " ABL Agent "), and the lenders party thereto. The Third ABL Amendment amends that certain Asset-Based Revolving Credit Agreement, dated as of April 26, 2023 (as amended, supplemented or otherwise modified, the " ABL Loan Agreement "), among the Company, Par LLC, Par Hawaii, Hermes, WPC, Par Montana, Par Rocky, the ABL Agent and the lenders party thereto. The Third ABL Amendment provided for, among other things, (i) incremental commitments that increase the total revolver commitment under the ABL Loan Agreement to $1,400,000,000, (ii) joinder of PHR to the ABL Loan Agreement as a Borrower and (iii) certain other amendments to the ABL Loan Agreement to permit a new intermediation facility in favor of PHR, in each case subject to the satisfaction of certain conditions set forth in the Third ABL Amendment, including the termination of the Compa

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided under Item 1.01 of this Current Report on Form 8-K regarding the transaction described therein is also responsive to Item 2.03 of this Current Report on Form 8-K and is hereby incorporated by reference into this Item 2.03.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Third Amendment to Asset-Based Revolving Credit Agreement and Joinder Agreement, dated as of March 22, 2024, among Par Pacific Holdings, Inc., Par Petroleum, LLC, Par Hawaii, LLC, Hermes Consolidated, LLC, Wyoming Pipeline Company LLC, Par Montana, LLC, Par Rocky Mountain Midstream, LLC, U.S. Oil & Refining Co., Par Hawaii Refining, LLC, the other loan parties party thereto, Wells Fargo Bank, National Association, as administrative agent and collateral agent, and the lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 26, 2024 PAR PACIFIC HOLDINGS, INC. By: /s/ Jeffrey R. Hollis Jeffrey R. Hollis Senior Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR