Welcome to our dedicated page for Par Pcifc Hldngs news (Ticker: PARR), a resource for investors and traders seeking the latest updates and insights on Par Pcifc Hldngs stock.
Par Pacific Holdings, Inc. (NYSE: PARR) generates frequent news as an energy company headquartered in Houston, Texas with refining, logistics, retail and renewable fuels operations focused on the western United States. Company announcements often cover refinery performance, segment results, capital allocation decisions and developments in its renewable fuels strategy.
Recent news releases have highlighted quarterly financial results for its refining, retail and logistics segments, including updates on refinery throughput in Hawaii, the Pacific Northwest and the Rockies. Par Pacific’s disclosures also describe stock repurchase activity, liquidity, term debt balances and changes to its term loan credit agreement, such as amendments that adjust interest margins.
Another recurring news theme is Par Pacific’s investment in renewable fuels, particularly through Hawaii Renewables, LLC, a joint venture co-located with the Kapolei refinery. News items have detailed the signing and closing of the joint venture with Alohi Renewable Energy LLC, the expected production of renewable diesel, sustainable aviation fuel, renewable naphtha and low carbon liquified petroleum gases, and related commodity swap and credit arrangements. Announcements have also covered partnerships involving Par Hawaii in the development of sustainable aviation fuel in Hawaii.
Investors following PARR news can expect updates on capital expenditure guidance, turnaround plans, financing arrangements, renewable fuels projects, and equity earnings from Laramie Energy, LLC, in which Par Pacific holds a significant interest. Bookmarking this news feed provides a single place to review Par Pacific’s earnings releases, transaction announcements, joint venture milestones and other material company communications as they are reported.
Par Pacific Holdings, Inc. (NYSE: PARR) has announced a private offering of $105 million in 12.875% senior secured notes due 2026. This offering is targeted at qualified institutional buyers and aims to enhance liquidity amid economic uncertainties. The Notes are secured by the Issuers' assets and expected to close on June 5, 2020. Proceeds will be utilized for general corporate purposes. CEO William Pate emphasized the importance of maintaining liquidity during the ongoing economic recovery post-COVID-19 shutdowns.
Par Pacific Holdings, Inc. (NYSE: PARR) announced plans to offer $100 million in senior secured notes due 2026 through its wholly-owned subsidiaries. These notes will be issued to qualified institutional buyers under Rule 144A and Regulation S. The net proceeds from the offering will be used for general corporate purposes. The notes will be secured and guaranteed on a senior basis and will share collateral with existing senior secured notes and a Term Loan B facility. The notes are not registered under the Securities Act, restricting their sale without registration or exemption.
Par Pacific Holdings, Inc. (NYSE: PARR) announced the furlough of 29 employees due to decreased throughput rates at its Kapolei, Hawaii refineries amid COVID-19. This staffing reduction is not anticipated to disrupt the supply of refined products in Hawaii. Additionally, the President, CEO, and independent Board members will cut their cash salaries by 75% effective immediately. Par Pacific continues to operate significant energy infrastructure in Hawaii and the Pacific Northwest, with a total refining capacity of 208,000 barrels per day.