Par Pacific Holdings Enters Material Definitive Agreement

TL;DR

PARR just signed a big deal, could be debt or something else. Watch this space.

AI Summary

On November 18, 2024, Par Pacific Holdings, Inc. entered into a material definitive agreement related to a direct financial obligation. The filing does not specify the exact nature of the agreement or any associated dollar amounts, but it indicates a significant financial event for the company.

Why It Matters

This filing signals 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 filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial risk or opportunity that is not yet fully detailed.

Key Players & Entities

• Par Pacific Holdings, Inc. (company) — Registrant
• November 18, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — nge of which registered Common stock , $0.01 par value PARR New York Stock Exchan
• $550.0 million — ed term loan in the principal amount of $550.0 million. On November 18, 2024, the Company, Pa
• $100.0 million — o increase the size of the term loan by $100.0 million to an aggregate initial principal balan
• $650.0 million — aggregate initial principal balance of $650.0 million with an aggregate outstanding principal
• $641.750 million — regate outstanding principal balance of $641.750 million pursuant to the Amendment No. 2 to Term

Filing Documents

• parr20241118_8k.htm (8-K) — 31KB
• 0001437749-24-035633.txt ( ) — 165KB
• parr-20241118.xsd (EX-101.SCH) — 3KB
• parr-20241118_def.xml (EX-101.DEF) — 12KB
• parr-20241118_lab.xml (EX-101.LAB) — 15KB
• parr-20241118_pre.xml (EX-101.PRE) — 12KB
• parr20241118_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement Amendment No. 2 to Term Loan Credit Agreement On February 28, 2023, Par Pacific Holdings, Inc., a Delaware corporation (the "Company"), Par Petroleum, LLC, a Delaware limited liability company ("Par LLC"), and Par Petroleum Finance Corp., a Delaware corporation ("Finance Corp."), entered into a term loan credit agreement (as amended by Amendment No. 1 to Term Loan Credit Agreement, dated April 8, 2024, the "Term Loan Credit Agreement") with Wells Fargo Bank, National Association, as administrative agent (the "Agent"), and the lenders party thereto ("Lenders"). Pursuant to the Term Loan Credit Agreement, the Lenders made an initial senior secured term loan in the principal amount of $550.0 million. On November 18, 2024, the Company, Par LLC and Finance Corp. received indications of commitments from the Lenders to increase the size of the term loan by $100.0 million to an aggregate initial principal balance of $650.0 million with an aggregate outstanding principal balance of $641.750 million pursuant to the Amendment No. 2 to Term Loan Credit Agreement ("Amendment No. 2"). The proceeds of the increase will be used for general corporate purposes. Amendment No. 2 is expected to be executed on or around November 25, 2024 and will be effective as of that date. The foregoing description of Amendment No. 2 is qualified in its entirety by reference to Amendment No. 2, a copy of which will be filed as an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2024 and incorporated by reference herein. This Current Report on Form 8-K includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act, which are intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements about the timing a

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * This filing excludes certain schedules and exhibits pursuant to Item 601(a)(5) of Regulation S-K, which the registrant agrees to furnish supplementally to the Securities and Exchange Commission upon request by the Commission; provided, however, that the registrant may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedules or exhibits so furnished.

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. Par Pacific Holdings, Inc. Dated: November 18, 2024 /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