---
schema_version: "secwatch.filing_event.v1"
accession: "0000821483-23-000016"
form_type: "8-K"
ticker: "PARR"
cik: "0000821483"
company_name: "PAR PACIFIC HOLDINGS, INC."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:15:26.387456+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Par Pacific enters $150M ABL facility; potential expansion to $600M; terminates prior credit agreement

## Summary
- New $150M asset-based revolving credit facility undrawn at closing; can increase by $450M for Billings acquisition and $250M separately.
- Proceeds to refinance existing debt, finance working capital, and general corporate purposes.
- Terminated the prior $150M Amended and Restated Loan and Security Agreement dated Feb 2, 2022.
- Facility matures 5 years from April 26, 2023; interest rate based on SOFR + 1.50% initially.
- Also executed 31st Amendment to First Lien ISDA Master Agreement with Merrill Lynch to facilitate the new credit agreement.

## SEC filing metadata
- accession: 0000821483-23-000016
- form_type: 8-K
- ticker: PARR
- cik: 0000821483
- company_name: PAR PACIFIC HOLDINGS, INC.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/821483/000082148323000016/0000821483-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/821483/000082148323000016/parr-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000821483-23-000016
- JSON: https://secwatch.observer/filing/0000821483-23-000016.json
- Plain text: https://secwatch.observer/filing/0000821483-23-000016.txt

## Key facts
- Debt Financings
  PAR PACIFIC HOLDINGS, INC. incurred revolving credit of $150 million with Wells Fargo Bank, National Association maturing five years after the Closing Date.
  - Instrument: revolving credit
  - Principal: $150 million
  - Counterparty: Wells Fargo Bank, National Association
  - Maturity: five years after the Closing Date
  - Event: incurrence
  source text: Association, as joint lead arrangers and joint bookrunners, providing for a senior secured asset-based revolving credit facility in an aggregate principal amount of up to $150 million (the “Initial Facility”) plus, subject to certain conditions set forth therein, commitments to increase the Initial Facility in an aggregate principal amount of up to $450
  evidence_url: https://www.sec.gov/Archives/edgar/data/821483/000082148323000016/0000821483-23-000016-index.htm
- Material Agreements
  PAR PACIFIC HOLDINGS, INC. entered into ABL Credit Agreement with Wells Fargo Bank, National Association, as administrative agent and collateral agent, and the lenders party thereto valued at up to $150 million (effective 2023-04-26).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent and collateral agent, and the lenders party thereto
  - Value: up to $150 million
  - Effective: 2023-04-26
  source text: On April 26, 2023 (the “Closing Date”), Par Pacific Holdings, Inc. (the “Company”), Par Petroleum, LLC (“Par Petroleum”), Par Hawaii, LLC (“Par Hawaii”), Hermes Consolidated, LLC (“Hermes”), Wyoming Pipeline Company LLC (“Wyoming Pipeline”), Par Montana, LLC (“Par Montana”) and Par Rocky Mountain Midstream, LLC (“Par Rocky,” and collectively with the Par Petroleum, Par Hawaii, Hermes, Wyoming Pipeline and Par Montana, the “Borrowers”) entered into that certain Asset-Based Revolving Credit Agreement (as amended from time to time, the “ABL Credit Agreement”) with the lenders party thereto, as lenders (the “Lenders”), the issuing banks party thereto, and Wells Fargo Bank, National Association, as administrative agent and collateral agent for each member of the lender group (the “Agent”), and Wells Fargo Bank, National Association, Bank of America, N.A., Goldman Sachs Bank USA, MUFG Bank, LTD and Fifth Third Bank, National Association, as joint lead arrangers and joint bookrunners, providi
  evidence_url: https://www.sec.gov/Archives/edgar/data/821483/000082148323000016/0000821483-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.