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BRIEF-Par Pacific Announces Offering Of Senior Secured Notes
December 5, 2017 / 1:18 PM / 6 days ago

BRIEF-Par Pacific Announces Offering Of Senior Secured Notes

Dec 5 (Reuters) - Par Pacific Holdings Inc:

* PAR PACIFIC HOLDINGS ANNOUNCES OFFERING OF SENIOR SECURED NOTES

* SAYS ‍UNITS INTEND TO OFFER $300 MILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR SECURED NOTES DUE 2025 THROUGH A PRIVATE OFFERING​

* SAYS ‍IN CONNECTION WITH OFFERING, PAR PETROLEUM AND ITS UNITS EXPECT TO ENTER NEW ASSET-BASED SECURED REVOLVING CREDIT FACILITY

* SAYS ‍ISSUERS INTEND TO USE PROCEEDS TO REPAY CO‘S, AND ITS UNIT‘S EXISTING INDEBTEDNESS UNDER EXISTING SECURED CREDIT FACILITIES​

* SAYS ‍PAR PETROLEUM, ITS UNITS EXPECT TO ENTER NEW ASSET-BASED SECURED REVOLVING CREDIT FACILITY WITH COMMITMENTS OF $75 MILLION​

* SAYS ISSUERS ‍TO ALSO USE PROCEEDS TO REPAY FORWARD SALE AMOUNT UNDER SUPPLY AND OFFTAKE AGREEMENTS WITH J. ARON & COMPANY LLC​ Source text for Eikon: Further company coverage:

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