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Par Pacific to sell $300 million eight-year secured notes on Tuesday
By Paul A. Harris
Portland, Ore., Dec. 5 – Par Pacific Holdings, Inc. plans to price $300 million of senior secured notes due 2025 in a Tuesday drive-by, according to a bond investor.
BofA Merrill Lynch is leading the Rule 144A and Regulation S offering.
The issuing entities will be wholly owned subsidiaries Par Petroleum, LLC and Par Petroleum Finance Corp.
The Houston-based company plans to use the proceeds to repay bank debt, as well as to repay the forward sale amount under supply and offtake agreements with J. Aron & Co. LLC, and for general corporate purposes.
Par Pacific owns, manages and maintains interests in energy and infrastructure businesses.
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