Par Pacific Prices Private Placement Of 7.75% Notes, Due 2025, For US$300 Million

Published: Dec 05 2017
Deal Summary

Par Pacific Holdings, Inc, a company which owns, manages and maintains interests in energy and infrastructure businesses, priced the private placement of 7.75% senior secured notes due 2025, for gross proceeds of US$300 million (MM). Interest on the notes will be payable semi-annually in arrears.

The company intends to use the proceeds from the placement for repayment of Par Petroleum indebtedness under its existing secured credit facilities, for repayment of forward sale amount under the supply and offtake agreements with J. Aron & Company LLC, and for general corporate purposes.

The placement is expected to be closed on December 21, 2017, subject to customary closing conditions.

Deal history

Pricing: On December 12, 2017, Par Pacific priced the private placement of 7.75% senior secured notes due 2025, for gross proceeds of US$300 MM.

Announced: On December 5, 2017, Par Pacific agreed to issue senior secured notes due 2025, for gross proceeds of US$300 MM, in a private placement.

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