On March 22, 2024, Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) entered into an amendment to its asset-based revolving credit facility (the “ABL Amendment”). The ABL Amendment amends the existing asset-based revolving credit facility to, among other things, increase the aggregate revolving commitments from $900 million to $1.4 billion, subject to the occurrence of certain conditions, including the termination of an existing intermediation facility.

On April 8, 2024, Par Pacific entered into an amendment to its term loan facility (the “Term Loan Amendment”, together with the ABL Amendment, the “Amendments”), which amends the existing term loan facility to, among other things, decrease the existing pricing for the outstanding term loans thereunder.

Baker Botts represents Par Pacific in the Amendments.

Par Pacific is a Houston-based American oil and gas exploration and production company that owns and operates market-leading energy and infrastructure business in logistically complex markets.

Par Pacific’s press releases regarding the ABL Amendment can be found here and the Term Loan Amendment can be found here.

Baker Botts Lawyers/Office Involved:

Finance: Clint Culpepper (Partner, Austin); Dela Peimani (Senior Associate, Austin); Morgan Copher (Associate, Dallas); Madeline McCune (Associate, Houston)

Project Finance: John Papaspanos (Partner, New York)

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