Par pacific announces pricing of proposed senior secured term loan b facility

Houston, feb. 15, 2023 (globe newswire) -- par pacific holdings, inc. (nyse: parr) (“par pacific”) today announced that par pacific, par petroleum, llc (the “company”) and par petroleum finance corp. (together with the company, the “borrowers”) have priced the proposed private $550 million aggregate principal amount senior secured term loan b due 2030 (the “facility”). the loans under the facility will be issued at a price equal to 98.5% of their face value and bear interest at a rate equal to sofr plus 4.25% (with sofr not less than 0.50%). the interest rate spread will step down 25 bps from 4.25% to 4.00% if par pacific's credit rating is upgraded by certain ratings agencies to ba3/bb-.
PARR Ratings Summary
PARR Quant Ranking