Par Pacific proposes $550M term loan B, provides preliminary Q4 2022 EBITDA $160-180M

PAR PACIFIC HOLDINGS, INC.

Proposed $550M senior secured term loan B due 2030 to refinance existing Term Loan B (2026) and 7.75%/12.875% notes.
Plans new $150M ABL facility due 2028, upsizable to ~$550M upon closing of previously announced Billings acquisition.
Preliminary Q4 2022 net income estimate $60-90M; adjusted net income $117-138.5M.
Preliminary Q4 2022 adjusted EBITDA estimate $160-180M; adjustments include inventory valuation, RINs, derivatives, acquisition costs.
Financial closing process not yet complete; final results may vary materially from these estimates.

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