---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-056278"
form_type: "8-K"
ticker: "PARR"
cik: "0000821483"
company_name: "PAR PACIFIC HOLDINGS, INC."
filed_at: "2023-03-01T23:59:59+00:00"
generated_at: "2026-06-18T19:29:46.342127+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Par Pacific closes $550M term loan, refinances existing debt and tenders notes

## Summary
- Entered $550M senior secured term loan at 98.5% of face value; proceeds used to refinance existing term loan and repurchase 7.750% 2025 and 12.875% 2026 notes.
- Interest rate: SOFR+4.25% or base rate+3.25%; stepdown of 0.25% if credit rating upgraded to Ba3/BB-.
- Maturity Feb 28, 2030; quarterly amortization of $1.375M starting June 30, 2023.
- Completed cash tender offer: repurchased $260.6M of 2025 notes and $29.0M of 2026 notes.
- Term loan secured by first-priority lien on substantially all assets of borrowers and guarantors, with certain exclusions.

## SEC filing metadata
- accession: 0001193125-23-056278
- form_type: 8-K
- ticker: PARR
- cik: 0000821483
- company_name: PAR PACIFIC HOLDINGS, INC.
- filed_at: 2023-03-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/821483/000119312523056278/0001193125-23-056278-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/821483/000119312523056278/d351457d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-056278
- JSON: https://secwatch.observer/filing/0001193125-23-056278.json
- Plain text: https://secwatch.observer/filing/0001193125-23-056278.txt

## Key facts
- Debt Financings
  PAR PACIFIC HOLDINGS, INC. incurred term loan of $550.0 million with Wells Fargo Bank, National Association at Adjusted Term Secured Overnight Financing Rate (“SOFR”), plus an applicable marg maturing February 28, 2030.
  - Instrument: term loan
  - Principal: $550.0 million
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: Adjusted Term Secured Overnight Financing Rate (“SOFR”), plus an applicable marg
  - Maturity: February 28, 2030
  - Event: incurrence
  source text: the Lenders made an initial senior secured term loan to the Borrowers in the principal amount of $550.0 million (the “Initial Term Loan”) on the Closing Date at a price equal to 98.5% of its face value.
  evidence_url: https://www.sec.gov/Archives/edgar/data/821483/000119312523056278/0001193125-23-056278-index.htm
- Material Agreements
  PAR PACIFIC HOLDINGS, INC. entered into Term Loan Credit Agreement with Wells Fargo Bank, National Association valued at $550,000,000 Initial Term Loan (effective 2023-02-28).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: $550,000,000 Initial Term Loan
  - Effective: 2023-02-28
  source text: On February 28, 2023 (the “Closing Date”), Par Pacific Holdings, Inc. (the “Company”), Par Petroleum, LLC, as a borrower (the “Par Borrower”), Par Petroleum Finance Corp., as a borrower (together with the Par Borrower, the “Borrowers” or the “Issuers”), entered into a term loan credit agreement (the “Term Loan Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent (the “Agent”), and the lenders party thereto (“Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/821483/000119312523056278/0001193125-23-056278-index.htm

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