secwatch.observer — SEC 8-K summary
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Issuer:     PAR PACIFIC HOLDINGS, INC. (PARR)
CIK:        0000821483
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0000821483-23-000016
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/821483/000082148323000016/0000821483-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/821483/000082148323000016/parr-20230426.htm
  HTML page:      https://secwatch.observer/filing/0000821483-23-000016

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