Par Pacific Holdings Enters Material Definitive Agreement

TL;DR

PARR just signed a big deal, could mean new debt or obligations.

AI Summary

On April 8, 2024, Par Pacific Holdings, Inc. entered into a material definitive agreement related to a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it is a significant event requiring disclosure.

Why It Matters

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

Risk Assessment

Risk Level: medium — The nature of the financial obligation is not detailed, creating uncertainty about its potential impact on the company's financial health.

Key Players & Entities

• Par Pacific Holdings, Inc. (company) — Registrant
• Delaware (jurisdiction) — State of Incorporation
• 1-36550 (company) — Commission File Number
• 84-1060803 (company) — I.R.S. Employer Identification No.
• April 8, 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

Filing Documents

• parr20240405_8k.htm (8-K) — 29KB
• ex_650770.htm (EX-10.1) — 56KB
• 0001437749-24-011487.txt ( ) — 226KB
• parr-20240408.xsd (EX-101.SCH) — 3KB
• parr-20240408_def.xml (EX-101.DEF) — 11KB
• parr-20240408_lab.xml (EX-101.LAB) — 15KB
• parr-20240408_pre.xml (EX-101.PRE) — 11KB
• parr20240405_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment No. 1 to Term Loan Credit Agreement On April 8, 2024, Par Pacific Holdings, Inc., a Delaware corporation (the " Company "), Par Petroleum, LLC, a Delaware limited liability company (" Par LLC "), Par Petroleum Finance Corp., a Delaware corporation (" Finance Corp. "), and the guarantors party thereto entered into that certain Amendment No. 1 to Term Loan Credit Agreement, dated as of April 8, 2024 (the " Amendment "), with Wells Fargo Bank, National Association, as administrative agent (in such capacity, the " Term Loan Agent "), and the lenders party thereto. The Amendment amends that certain Term Loan Credit Agreement, dated as of February 28, 2023 (as amended, supplemented or otherwise modified, the " Term Loan Agreement "), among the Company, Par LLC, Finance Corp., the Term Loan Agent and the lenders party thereto. The Amendment provided for, among other things, (i) a reduction in the Applicable Margin under the Term Loan Agreement by 50 basis points, such that base rate loans and SOFR loans will bear interest at the applicable base rate plus 2.75% and 3.75%, respectively and (ii) the elimination of the Term SOFR Adjustment of 10 basis points with respect to loans under the Term Loan Agreement. The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein. 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.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Amendment No. 1 to Term Loan Credit Agreement, dated as of April 8, 2024, by and among Par Pacific Holdings, Inc., Par Petroleum, LLC, Par Petroleum Finance Corp., the guarantors party thereto, Wells Fargo Bank, National Association, as administrative 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: April 9, 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