Par Pacific Announces Expected Increase in ABL Commitments to up to $1.4 billion and Replacement of Intermediation Facility [Yahoo! Finance]
Par Pacific Holdings, Inc. (PARR)
NASDAQ:AMEX Investor Relations:
parpacific.com/profile
Company Research
Source: Yahoo! Finance
increase in lender commitments under its existing asset-based revolving credit facility (“ABL”) to up to $1.4 billion. The increase is expected to be based, in part, on the addition of certain collateral assets in Hawaii, including refined product inventory and accounts receivable. Par Pacific also intends to refinance its existing working capital financing facilities for its Hawaii operations, a supply and offtake agreement and discretionary draw facility, with a combination of funds from the increased ABL facility and a smaller crude-only intermediation agreement. The financing is anticipated to reduce the Company's working capital financing costs by approximately $10 million per year and increase flexibility of funding. Each of the expected increase in lender commitments, the addition of collateral assets to the existing ABL and the new intermediation agreement is expected to be effective on or around May 31, 2024, and are subject to the negotiation and execution of definitive do
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PARR
Earnings
- 2/27/24 - Miss
PARR
Sec Filings
- 4/9/24 - Form 8-K
- 4/8/24 - Form 4
- 4/8/24 - Form 4
- PARR's page on the SEC website