Par pacific announces proposed $550 million senior secured term loan b due 2030 and fourth quarter 2022 operating update

Houston, feb. 03, 2023 (globe newswire) -- par pacific holdings, inc. (nyse: parr) (“par pacific” or the “company”) today announced a proposed private $550 million aggregate principal amount senior secured term loan b due 2030 (the “facility”). par pacific plans to use the facility to refinance its existing term loan b due 2026, its 7.750% senior secured notes due 2025 (the “2025 notes”), and its 12.875% senior secured notes due 2026 (together with the 2025 notes, the “notes”) to extend its maturity profile and simplify its capital structure. the company also plans to refinance its existing abl credit facility due 2025 with a new $150 million abl credit facility due 2028, which it expects to upsize to approximately $550 million upon the closing of its previously announced billings acquisition.
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