HOUSTON, May 11, 2026 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) ("Par Pacific" or the "Company") announced today that Par Petroleum, LLC, a wholly owned subsidiary of Par Pacific ("Par Petroleum"), priced a private placement (the "Offering") pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), of $500 million in aggregate principal amount of 7.375% senior unsecured notes due 2034 (the "Notes"). The Notes mature on June 1, 2034, and will be issued at par. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Par Pacific and each of Par Petroleum's subsidiaries that guarantees the Company's senior secured asset-based revolving credit facility (the "ABL Credit Facility") at the closing of the Offering. The Offering is expected to close on May 14, 2026, subject to customary closing conditions.

The Company intends to use the net proceeds from the Offering, together with cash on hand or borrowings under the ABL Credit Facility, to repay all of the aggregate principal balance under and terminate Par Petroleum's term loan due 2030.

The offer and sale of the Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, ...