Monitor the May 14 closing and subsequent interest expense impact. The 7.375% coupon is elevated, suggesting credit market pricing of risk. Watch for any rating agency actions or changes in leverage post-refinancing.
Price Chart
Executive Summary
Par Pacific priced a $500M private placement of 7.375% senior unsecured notes due 2034 to refinance its term loan due 2030. The high coupon reflects the company's credit profile, and the refinancing extends maturities but adds interest cost. The offering is expected to close May 14, 2026.
Key Financial Metrics
Key Facts
- $500M aggregate principal amount of 7.375% senior unsecured notes due 2034
- Notes priced at par, mature June 1, 2034
- Proceeds used to repay term loan due 2030, plus cash on hand or ABL borrowings
- Offering expected to close May 14, 2026
- Private placement under Rule 144A/Regulation S, not registered with SEC
Financial Impact
$500M debt refinancing at 7.375% coupon, replacing existing term loan
Risk Factors
- Higher interest expense from 7.375% coupon could pressure earnings
- Refinancing does not reduce debt principal, only extends maturity
- Private placement limits liquidity compared to registered offering
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292445 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 28, 2026 29d ago | Press Release | $77.97 $87.52 | ▲ +12.25% | ▲ +11.04% | $74.53 (−4.41%) |
Sep 15, 2026 6w ago | Insider Cluster | $84.90 $76.97 | ▼ −9.34% | ▼ −11.17% | $74.53 (−12.21%) |
Sep 11, 2026 6w ago | Insider Cluster | $81.70 $82.00 | ▼ −0.37% | ▼ −0.26% | $74.53 (+8.78%) |
Aug 26, 2026 8w ago | Institutional Cluster | $75.77 $80.16 | ▲ +5.79% | ▲ +5.91% | $74.53 (−1.64%) |
Aug 25, 2026 9w ago | Press Release | $75.77 $80.16 | ▲ +5.79% | ▲ +5.91% | $74.53 (−1.64%) |
Aug 19, 2026 9w ago | Insider Cluster | $72.45 $77.04 | ▲ +6.34% | ▲ +5.22% | $74.53 (+2.87%) |
Aug 18, 2026 10w ago | Insider Cluster | $77.13 $75.77 | ▼ −1.76% | ▼ −1.38% | $74.53 (−3.37%) |
Aug 11, 2026 11w ago | Insider Cluster | $75.47 $80.51 | ▼ −6.68% | ▼ −7.08% | $74.53 (+1.25%) |
Aug 4, 2026 12w ago | Press Release | $69.92 $77.78 | ▲ +11.24% | ▲ +10.89% | $74.53 (+6.59%) |
May 11, 2026 24w ago | Press Release | $63.08 $58.79 | ▼ −6.80% | ▼ −6.88% | $74.53 (+18.15%) |
US Market Status
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