Past year: ▲ 115%(35.14 – 86.12 USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 May 2026debt financing▲ GoodMajor
Par Pacific completed a major refinancing: $500 million of new 7.375% unsecured senior notes due 2034, alongside a new $1.8 billion asset-based credit facility (expandable to $2.3 billion) replacing its 2023 ABL and running to 2031 -- a much larger, cheaper and longer-dated capital structure than the company had even a few years earlier.
19 Dec 2025debt financing▲ Good
Par Pacific's term loan cost was cut by another 50 basis points, and its Hawaii renewable fuels joint venture added a $25 million letter-of-credit facility with Wells Fargo to help pay its feedstock suppliers.
4 Nov 2025listing compliance notice▲ GoodMajor
the exchange certified PAR PACIFIC HOLDINGS, INC.'s securities for listing, clearing them to begin trading.
22 Oct 2025joint venture update▲ GoodMajor
The Mitsubishi/ENEOS renewable fuels joint venture officially closed: Par Pacific's Hawaii Renewables Holdings retains 63.5% ownership and board control (3 of 4 director seats), Alohi holds 36.5% with a downside put right, and Alohi funded its $100 million contribution.
3 Oct 2025debt financing▲ GoodMajor
Par Pacific's new Hawaii renewable fuels venture set up a commodity-swap and prepayment financing framework with Wells Fargo to help fund its soybean oil and crude feedstock purchases.
21 July 2025joint venture update▲ GoodMajor
Par Pacific agreed to form a joint venture with Mitsubishi and ENEOS (via their Alohi Renewable Energy entity) to build and run a renewable fuels plant next to the Kapolei, Hawaii refinery -- expected to produce about 61 million gallons a year of renewable diesel, sustainable aviation fuel and related products by the end of 2025. Alohi will fund $100 million for a 36.5% stake; Par Pacific contributes the site and existing assets plus up to $21 million more.
18 Nov 2024debt financing▲ Good
Par Pacific received lender commitments to increase its term loan by $100 million, to $650 million aggregate initial principal ($641.75 million outstanding). The amendment was expected to be executed around November 25, 2024, with proceeds for general corporate purposes.
5 June 2024debt financing▲ GoodMajor
Par Pacific let its long-standing Supply and Offtake Agreement with J. Aron for the Hawaii refinery expire on its own terms after more than six years, replacing it with a new Inventory Intermediation Agreement with Citigroup Energy -- along with terminating the related MUFG/Macquarie letter-of-credit facility, since Par Hawaii Refining now has direct access to the company's own asset-based credit facility.
9 Apr 2024debt financing▲ Good
On April 8, 2024, Par Pacific amended its February 2023 term loan, cutting the margin by 50 basis points to base rate plus 2.75% or SOFR plus 3.75%. The amendment also eliminated the 10 basis point Term SOFR adjustment.
27 Mar 2024debt financing▲ GoodMajor
Par Pacific's asset-based revolver was expanded again, to a total commitment of $1.4 billion, and the amendment also teed up bringing Par Hawaii Refining onto the ABL facility as part of a plan to replace its remaining Hawaii intermediation arrangement.
10 Oct 2023debt financing▲ GoodMajor
Par Pacific wound down and fully terminated U.S. Oil & Refining's long-running Merrill Lynch Commodities intermediation arrangement (in place since 2016 and extended more than two dozen times), bringing USOR directly onto the company's own asset-based credit facility instead -- which was simultaneously expanded to $900 million. This closes out years of routine third-party intermediation financing that the company had outgrown.
1 Aug 2023debt financing▲ Good
Par Hawaii Refining set up a new uncommitted letter-of-credit facility (up to $120 million, expandable to $350 million) with MUFG and Macquarie to help finance crude purchases, including support for bidding on Strategic Petroleum Reserve releases.
26 June 2023debt financing● Neutral
Par Hawaii Refining amended its Supply and Offtake Agreement with J. Aron on June 21, 2023, replacing LIBOR with a SOFR-based rate (Compounded SOFR plus 0.26161%). The change takes effect July 1, 2023.
1 June 2023asset acquisition disposition▲ GoodMajor
Par Pacific closed its purchase of the 63,000 barrel-per-day Billings, Montana refinery and related logistics assets from ExxonMobil for about $638 million: a $310 million base price, about $290 million for inventory and about $38 million for working capital and other adjustments. The base price was paid from cash on hand and the inventory was mainly financed by about $215 million drawn on the Billings Incremental Facility.
2 May 2023debt financing▲ GoodMajor
Par Pacific replaced its revolver with a new Asset-Based Revolving Credit Agreement led by Wells Fargo: a $150 million initial facility plus up to $450 million more (a "Billings Incremental Facility") specifically earmarked to help fund the pending ExxonMobil Montana refinery purchase.
1 Mar 2023debt financing▲ GoodMajor
Par Pacific refinanced with a new $550 million Wells Fargo-led term loan (maturing 2030), using the proceeds to retire its existing term loan and repurchase both its 2025 and 2026 senior secured notes -- including the expensive 12.875% pandemic-era notes -- meaningfully simplifying and lowering the cost of its debt stack.
7 Nov 2022material agreement● Neutral
U.S. Oil & Refining's Merrill Lynch Commodities intermediation arrangement was extended again, to March 2024.
21 Oct 2022material agreement▲ GoodMajor
Par Pacific agreed to buy ExxonMobil's 63,000 bpd Billings, Montana refinery, plus associated logistics assets and a cogeneration company, for a $310 million base price before inventory and working-capital adjustments. The deal was expected to lift Par's total throughput capacity to about 218,000 bpd.
16 Aug 2022material agreement● Neutral
U.S. Oil & Refining's Merrill Lynch Commodities intermediation arrangement switched its benchmark rate from LIBOR to SOFR, part of the industry-wide LIBOR phase-out.
19 May 2022debt financing● Neutral
A technical amendment to the J. Aron supply agreement raised the share of eligible receivables that can come from Hawaiian Electric-affiliated customers, from 40% to 50%.
28 Apr 2022debt financing▲ Good
The discretionary draw facility under Par Hawaii's J. Aron supply agreement was increased from $165 million to $215 million, with a higher hydrocarbon-inventory borrowing base -- more working-capital capacity amid strong 2022 refining margins.
1 Apr 2022debt financing▲ Good
Par Pacific's asset-based revolver was increased from $105 million to $142.5 million via its accordion feature.
11 Mar 2022material agreement● Neutral
U.S. Oil & Refining's Merrill Lynch Commodities intermediation arrangement was extended again, to March 2023.
4 Feb 2022debt financing▲ GoodMajor
Par Pacific replaced its asset-based revolver with a new $105 million facility (up from $85 million) with Bank of America, maturing 2025, plus a $50 million accordion option.
20 Dec 2021material agreement● Neutral
U.S. Oil & Refining's Merrill Lynch Commodities intermediation arrangement was extended again, to December 2022 (with an automatic bump to March 2023).
2 June 2021debt financing▲ GoodMajor
Par Hawaii signed a Second Amended and Restated Supply and Offtake Agreement with J. Aron, extending the Hawaii refinery's crude supply/product offtake arrangement to May 2024 and adding a new discretionary draw facility of up to $165 million -- a multi-year renewal of one of the company's most important financing relationships.
10 May 2021material agreement● Neutral
Par Pacific's supply and offtake agreement with J. Aron for the Hawaii refinery got a short one-month extension to June 2021, bridging to a bigger renewal.
17 Mar 2021material agreement▲ GoodMajor
Par Pacific raised about $75.7 million in a public stock offering (5 million shares) to pay down debt and fund general corporate needs -- a deleveraging move as the post-pandemic recovery took hold.
24 Feb 2021debt financing▲ GoodMajor
The sale-leaseback closed on 21 of the 22 properties for about $109.4 million, with roughly $51.7 million of proceeds used to pay off the Bank of Hawaii mortgage on those properties; the last property was expected to close separately shortly after.
16 Feb 2021material agreement● Neutral
U.S. Oil & Refining's Merrill Lynch Commodities intermediation arrangement was extended again, to March 2022.
