Par Pacific Announces Term Loan Repricing

Par Pacific (NYSE: PARR) announced a repricing amendment to its existing term loan credit agreement due 2030 (the "Term Loan Facility").

Rhea-AI Summary

Par Pacific (NYSE: PARR) announced a repricing amendment to its existing term loan credit agreement due 2030 (the "Term Loan Facility").

The amendment, expected to close on or about December 17, 2025 subject to customary closing conditions, reduces the Applicable Margin by 50 basis points. After repricing, Base Rate loans will bear interest at base rate + 2.25% and SOFR loans at SOFR + 3.25%.

Positive

• Applicable margin cut by 50 basis points
• Base Rate loans at base rate + 2.25%
• SOFR loans at SOFR + 3.25%
• Repricing expected to close by December 17, 2025

Negative

• Change only reduces interest rate — no principal or maturity extension disclosed

Argus Dec 11 session

-2.38% close to close Open Argus

Details

News Market Reaction – PARR

On Dec 11, the day this news came out, PARR closed 2.38% below the previous close.

Data tracked by StockTitan Argus for the Dec 11 session.

Key Figures

Term loan maturity: 2030 Margin reduction: 50 basis points Base Rate margin: 2.25% +2 more

Term loan maturity

2030

Existing term loan credit agreement due 2030

Margin reduction

50 basis points

Reduction in Applicable Margin under Term Loan Facility

Base Rate margin

2.25%

Base Rate loans bear interest at base rate plus 2.25%

SOFR margin

3.25%

SOFR loans bear interest at SOFR plus 3.25%

Expected close date

December 17, 2025

Repricing amendment expected close, subject to conditions

Historical Context

5 past events · Latest: Nov 04

5 events

1. Nov 04

   Q3 2025 earnings

   24h Move

   -1.6%

   Reported strong Q3 2025 results with high net income and liquidity.

2. Oct 21

   JV closing

   24h Move

   -1.9%

   Closed Hawaii Renewables JV with $100M cash for 36.5% equity stake.

3. Oct 13

   Earnings schedule

   24h Move

   +1.3%

   Announced Q3 2025 earnings release date and conference call logistics.

4. Aug 05

   Q2 2025 earnings

   24h Move

   -11.1%

   Strong Q2 results with higher net income, EBITDA, and liquidity growth.

5. Jul 21

   JV announcement

   24h Move

   -0.4%

   Announced Hawaii Renewables JV to build large renewable fuels facility.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

term loan credit agreement, applicable margin, base rate, SOFR, +1 more

5 terms

term loan credit agreement financial

"repriced and allocated its existing term loan credit agreement due 2030"

A term loan credit agreement is a formal contract where a borrower receives a fixed sum of money from a lender and agrees to repay it over a set period with interest, much like a multi‑year mortgage or car loan for a business. It matters to investors because the size, cost and rules of the loan affect a company’s cash flow, risk of default and ability to invest or pay dividends; restrictive conditions can also force operational changes.

applicable margin financial

"will reduce the Applicable Margin under the Term Loan Facility by fifty"

Applicable margin is the extra percentage added to a base interest rate to calculate the actual interest a borrower pays on a floating-rate loan or credit line. Investors care because it directly affects a company’s borrowing cost—higher margins raise interest expense and reduce profit and cash flow, while lower margins make financing cheaper; think of it as a variable surcharge on a sale price that reflects the lender’s view of risk.

base rate financial

"Base Rate loans and SOFR loans will bear interest at the applicable base rate"

The base rate is the primary interest rate set by a central authority or used as a benchmark for pricing loans, savings and other financial products. Think of it as the anchor in a floating system: when the base rate moves, borrowing costs, corporate financing and consumer spending tend to shift too, which can change company profits and investor returns across the market.

SOFR financial

"Base Rate loans and SOFR loans will bear interest at the applicable base rate"

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

basis points financial

"reduce the Applicable Margin under the Term Loan Facility by fifty (50) basis points"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) (“Par Pacific”) today announced it has repriced and allocated its existing term loan credit agreement due 2030 (the “Term Loan Facility”). The repricing amendment, which is expected to close on or about December 17, 2025 subject to customary closing conditions, will reduce the Applicable Margin under the Term Loan Facility by fifty (50) basis points, such that Base Rate loans and SOFR loans will bear interest at the applicable base rate plus 2.25% and 3.25%, respectively.  

About Par Pacific

Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com. 

Forward-Looking Statements

This news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about the expected timing of the closing of the repricing amendment and other aspects of the Term Loan Facility. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, including the satisfaction of any conditions precedent to the closing of the repricing of the Term Loan Facility and other factors, many of which are outside our control, which could cause actual results to differ materially from such statements. We cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should any of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this news release. Except as required by applicable law, we do not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. We further expressly disclaim any written or oral statements made by a third party regarding the subject matter of this news release.

Investor Contact:
Ashimi Patel Vitter
VP, Investor Relations & Sustainability
(832) 916-3355
apatel@parpacific.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Par Pacific (PARR) announce on December 11, 2025 about its term loan?

Par Pacific announced a repricing amendment to its term loan due 2030 that reduces the Applicable Margin by 50 basis points.

When will the Par Pacific term loan repricing (PARR) close?

The repricing is expected to close on or about December 17, 2025, subject to customary closing conditions.

What will be the new interest for Base Rate loans under Par Pacific's term loan (PARR)?

Base Rate loans will bear interest at base rate + 2.25% after the repricing.

What will be the new interest for SOFR loans under Par Pacific's term loan (PARR)?

SOFR loans will bear interest at SOFR + 3.25% after the repricing.

How much did Par Pacific (PARR) reduce the Applicable Margin on its term loan?

The Applicable Margin was reduced by 50 basis points.