{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-027901","form_type":"8-K","ticker":"PARR","cik":"0000821483","company_name":"PAR PACIFIC HOLDINGS, INC.","filed_at":"2023-10-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.095444+00:00","generated_at":"2026-06-10T03:05:09.936002+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Par Pacific increases ABL revolver to $900M; terminates Merrill Lynch ISDA facility","bullets":["ABL revolver commitments increased to $900M, with future incremental capacity up to $400M.","USOR, McChord and USOT added as borrowers under ABL; liens on substantially all assets granted.","First Lien ISDA with Merrill Lynch Commodities terminated; all liens on USOR parties' collateral released.","USOR provided cash collateral and fees to MLC as part of wind-down conditions; certain letters of credit to be cancelled.","Limited consent from MUFG Bank obtained for ABL increase, effective October 4, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-027901","json":"https://secwatch.observer/filing/0001437749-23-027901.json","markdown":"https://secwatch.observer/filing/0001437749-23-027901.md","text":"https://secwatch.observer/filing/0001437749-23-027901.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/821483/000143774923027901/0001437749-23-027901-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/821483/000143774923027901/parr20231006_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T03:05:09.936002+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"91f00952644086b65be31ed518577350f72868ef","claim":"PAR PACIFIC HOLDINGS, INC. incurred credit facility of $900,000,000 with Wells Fargo Bank, National Association.","evidence_excerpt":"Second Amendment provided for, among other things (i) incremental commitments that increase the total revolver commitment under the ABL Loan Agreement to $900,000,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/821483/000143774923027901/0001437749-23-027901-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$900,000,000"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"f1d4da7e7acac07e2d4a80b44644830b8e2112b3","claim":"PAR PACIFIC HOLDINGS, INC. terminated First Lien ISDA 2002 Master Agreement with Merrill Lynch Commodities, Inc. valued at Wind-Down and Termination Agreement terminated the First Lien ISDA Agreement; cash collateral and fe (effective 2023-10-04).","evidence_excerpt":"On October 4, 2023, U.S. Oil & Refining Co., a Delaware corporation (“ USOR ”), Par Petroleum, LLC, a Delaware limited liability company (“ Par LLC ”), and McChord Pipeline Co., a Washington limited liability company (“ McChord ”), collectively, USOR, Par LLC and McChord are referred to herein as the “ USOR Parties ”, each being an indirect wholly-owned subsidiary of Par Pacific Holdings, Inc. (the “ Company ”), entered into that certain Wind-Down and Termination Agreement (the “ Wind-Down Agreement ”) with Merrill Lynch Commodities, Inc. (“ MLC ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/821483/000143774923027901/0001437749-23-027901-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Merrill Lynch Commodities, Inc."},{"label":"Value","value":"Wind-Down and Termination Agreement terminated the First Lien ISDA Agreement; cash collateral and fe"},{"label":"Effective","value":"2023-10-04"}],"fact_type":"material_agreement"},{"claim_id":"fcea607eb2c53c5678188a8fc9485310f4c373d9","claim":"PAR PACIFIC HOLDINGS, INC. entered into Second Amendment to Asset-Based Revolving Credit Agreement and Joinder Agreement with Wells Fargo Bank, National Association (as administrative agent and collateral agent) valued at Second Amendment increased ABL revolver commitments to $900,000,000 with potential for future increm (effective 2023-10-04).","evidence_excerpt":"On October 4, 2023, Par LLC, Par Hawaii, LLC, a Delaware limited liability company (“ Par Hawaii ”), Hermes Consolidated, LLC, a Delaware limited liability company (“ Hermes ”), Wyoming Pipeline Company LLC, a Wyoming limited liability company (“ WPC ”), Par Montana, LLC, a Delaware limited liability company (“ Par Montana ”), Par Rocky Mountain Midstream, LLC, a Delaware limited liability company (“ Par Rocky ”), USOR, Par Pacific Holdings, Inc., a Delaware corporation (the “ Company ”), and certain wholly-owned direct or indirect subsidiaries of Par LLC as guarantors, entered into that certain Second Amendment to Asset-Based Revolving Credit Agreement and Joinder Agreement dated October 4, 2023 (the “ Second Amendment ”) with Wells Fargo Bank, National Association, as administrative agent and collateral agent (in such capacity, “ ABL Agent ”), and the incremental lenders and lenders party thereto (the “ ABL Lenders ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/821483/000143774923027901/0001437749-23-027901-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association (as administrative agent and collateral agent)"},{"label":"Value","value":"Second Amendment increased ABL revolver commitments to $900,000,000 with potential for future increm"},{"label":"Effective","value":"2023-10-04"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}