PARR Par Pacific Holdings, Inc.
Price Chart
Executive Summary
Par Pacific announced a $500M private offering of senior unsecured notes due 2034 to refinance its existing term loan due 2030. The debt-for-debt swap extends maturities but increases total leverage with unsecured notes, a modestly negative credit event for an already leveraged refiner.
Key Financial Metrics
Actionable Insight
Monitor pricing of the notes for spread vs. existing term loan; wider spreads would signal credit deterioration. Watch for any downgrade risk from rating agencies given the shift to unsecured debt. The refinancing removes near-term maturity pressure but does not improve fundamentals.
Key Facts
- $500M aggregate principal amount of senior unsecured notes due 2034 offered in private placement under Rule 144A/Reg S
- Proceeds used to repay and terminate Par Petroleum's term loan due 2030, plus cash on hand or ABL borrowings
- Notes are unsecured; guaranteed by Par Pacific and certain subsidiaries that guarantee the ABL facility
- Offering not registered under Securities Act; only QIBs and non-U.S. persons eligible
- Refinancing extends maturity from 2030 to 2034 but swaps secured debt for unsecured, potentially increasing interest cost
Financial Impact
$500M debt offering to refinance existing term loan; net leverage impact neutral but interest cost may rise given unsecured structure
Risk Factors
- Higher interest expense if unsecured notes price at a wider spread than the term loan being refinanced
- Potential credit rating downgrade if leverage increases or unsecured debt is viewed as riskier
- Execution risk: offering is subject to market conditions and may not close on favorable terms
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291855 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 12, 2026
29d ago
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Press Release
| $63.08 $58.79 | ▼ −6.80% | ▼ −6.88% | $57.13 (−9.43%) |
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May 11, 2026
29d ago
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Press Release
| $64.50 $58.79 | ▲ +8.85% | ▲ +8.77% | $57.13 (+11.43%) |
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May 5, 2026
5w ago
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8-K
| $62.29 $63.08 | ▲ +1.27% | ▲ +0.14% | $57.13 (−8.28%) |
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Apr 13, 2026
8w ago
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Press Release
| $63.26 $61.56 | ▼ −2.69% | ▼ −4.08% | $57.13 (−9.69%) |
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Mar 20, 2026
11w ago
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DEFA14A
| $61.39 $65.67 | ▲ +6.97% | ▲ +9.12% | $57.13 (−6.94%) |
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Mar 13, 2026
12w ago
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Insider Cluster
| $53.82 $61.39 | ▲ +14.07% | ▲ +16.18% | $57.13 (+6.15%) |
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Feb 27, 2026
14w ago
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Insider Cluster
| $42.67 $48.87 | ▼ −14.53% | ▼ −16.51% | $57.13 (−33.89%) |
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Feb 27, 2026
14w ago
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Insider Cluster
| $42.67 $48.87 | ▲ +14.53% | ▲ +16.51% | $57.13 (+33.89%) |
US Market Status
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