secwatch.observer — SEC 8-K summary
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Issuer:     PAR PACIFIC HOLDINGS, INC. (PARR)
CIK:        0000821483
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001193125-23-056278
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/821483/000119312523056278/0001193125-23-056278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/821483/000119312523056278/d351457d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-056278

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