Business Context and Reporting Period
Company: Par Pacific Holdings, Inc. (PARR)
Filing Type: Form 8-K (Current Report)
Date of Report: November 18, 2024
Reporting Period: Event date November 18, 2024; Amendment effective date expected on or around November 25, 2024.
Key Financial Metrics
This filing reports on a specific debt financing event rather than periodic financial performance. No revenue, profit, cash flow, or margin data is provided in this document.
| Metric | Value |
|---|---|
| Original Term Loan Principal | $550.0 million |
| Proposed Loan Increase | $100.0 million |
| New Aggregate Initial Principal Balance | $650.0 million |
| Aggregate Outstanding Principal Balance | $641.750 million |
| Administrative Agent | Wells Fargo Bank, National Association |
Material Changes
The Company entered into Amendment No. 2 to its Term Loan Credit Agreement. This amendment increases the size of the senior secured term loan by $100.0 million. The proceeds from this increase are designated for general corporate purposes. The amendment is expected to be executed and become effective on or around November 25, 2024.
Guidance, Outlook, and Risks
Management Commentary: The filing contains forward-looking statements regarding the timing and execution of Amendment No. 2. The Company states it does not intend to update these statements except as required by law.
Risks: Actual results may vary materially due to market conditions and other risks identified in the Company's other filings. There is no assurance that the assumptions underlying the forward-looking statements will prove correct.
Investor Verification Checklist
- Verify the final execution date of Amendment No. 2 (expected November 25, 2024).
- Review the full text of Amendment No. 2, which will be filed as an exhibit to the Annual Report on Form 10-K for the year ended December 31, 2024.
- Confirm the specific interest rate terms and covenants associated with the increased $100.0 million principal.
- Monitor the Company's use of proceeds for "general corporate purposes" in subsequent filings.