Par Pacific secures new crude intermediation facility with Citi; ABL commitments increased to $1.4B

PAR PACIFIC HOLDINGS, INC.

New crude-only intermediation facility with Citigroup Energy Inc. effective May 31, 2024, term 36 months, replaces J. Aron facility.
ABL lender commitments increased to up to $1.4 billion, secured by additional collateral assets in Hawaii including refined product inventory and receivables.
Previous supply/offtake agreement with J. Aron & Company LLC terminated on May 31, 2024, without penalties; related security and credit agreements terminated.
Par Pacific's subsidiary Par Hawaii Refining is borrower; Par Petroleum LLC provides unsecured guaranty.

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