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Par Pacific Holdings, Inc. said its wholly owned subsidiary, Par Petroleum, LLC, priced a private placement of $500 million aggregate principal amount of 7.375% senior unsecured notes due 2034.
The notes mature on June 1, 2034 and will be issued at par. Par Pacific and certain Par Petroleum subsidiaries will provide full and unconditional guarantees on a senior unsecured basis. The guarantees will be provided by Par Pacific and each Par Petroleum subsidiary that guarantees the company’s senior secured asset-based revolving credit facility (the “ABL Credit Facility”) at the closing of the offering.
The offering is expected to close on May 14, 2026, subject to customary closing conditions.
Par Pacific said it intends to use the net proceeds from the offering, together with cash on hand or borrowings under the ABL Credit Facility, to repay all of the aggregate principal balance under and terminate Par Petroleum’s term loan due 2030.
The notes and related guarantees have not been registered under the Securities Act of 1933 or any state securities laws. The company plans to offer and sell the securities only to persons it reasonably believes are qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S.
This release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and any sale would be unlawful in jurisdictions where the offer or sale is not permitted.
Par Pacific Holdings, Inc., headquartered in Houston, Texas, is a growing energy company providing renewable and conventional fuels to the western United States. The company owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an energy infrastructure network that includes 13 million barrels of storage, as well as marine, rail, rack, and pipeline assets.
Par Pacific also operates the Hele retail brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest. In addition, the company owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado.
The company noted that the release includes forward-looking statements intended to qualify for the safe harbor under applicable securities laws. These statements include expectations regarding the timing of the offering’s closing and the intended use of proceeds. Par Pacific said such statements are subject to risks and uncertainties described in its filings with the Securities and Exchange Commission, and that actual results may differ materially.
Ashimi Patel Vitter, VP, Investor Relations & Sustainability
(832) 916-3355
apatel@parpacific.com
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