Past year: ▲ 115%(35.14 – 86.12 USD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Feb 2021material agreement▲ GoodMajor
Par Pacific agreed to sell 22 Hawaii retail convenience store/fuel station properties to a Realty Income subsidiary for $116.1 million in a sale-leaseback, then lease them back on a 15-year triple-net basis -- unlocking real estate value from the company's Hawaii retail network as the pandemic eased.
8 June 2020debt financing▼ BadMajor
The $105 million 12.875% notes closed, adding a costly new layer of debt to Par Pacific's capital structure to see it through the pandemic demand collapse.
28 May 2020material agreement▼ BadMajor
As COVID-19 crushed fuel demand, Par Pacific raised $105 million through new 12.875% senior secured notes with Goldman Sachs -- a much higher coupon than its 2017 notes, reflecting how expensive emergency liquidity was for refiners during the pandemic.
4 Nov 2019material agreement● Neutral
U.S. Oil & Refining's crude intermediation arrangement with Merrill Lynch Commodities was extended from December 2019 to June 2021 -- one of many routine rollovers of this facility over the years.
3 Apr 2019debt financing● Neutral
Par Pacific refinanced a bridge loan on its 21-property Hawaii retail real estate portfolio with a new $45 million, 20-year-amortizing term loan from Bank of Hawaii.
14 Jan 2019asset acquisition disposition▲ GoodMajor
Par Pacific completed its $358 million acquisition of U.S. Oil & Refining Co. -- a 42,000 bpd refinery, marine terminal, rail loading facility and storage in Tacoma, Washington -- funded partly by a new $250 million Goldman Sachs term loan. This gave Par Pacific its second refinery and its first Pacific Northwest logistics platform.
11 Dec 2018material agreement▲ GoodMajor
Ahead of closing its planned purchase of refining "topping units" to expand the Kapolei, Hawaii refinery, Par Hawaii amended its J. Aron supply arrangement so J. Aron will procure up to 150,000 barrels/day of crude for the refinery (up from 94,000), covering the added processing capacity once the deal closes.
27 July 2018debt financing▲ Good
Par Pacific's asset-based revolving credit facility was increased from $75 million to $85 million with a new incremental lender, American Savings Bank, joining.
20 July 2018debt financing▲ Good
Par Hawaii's deferred-payment credit line with commodity trader J. Aron under their crude supply arrangement was increased from $125 million to $165 million, giving the Hawaii refinery more working-capital flexibility.
26 Feb 2018listing compliance notice▼ BadMajor
PAR PACIFIC HOLDINGS, INC.'s securities were notified for removal from listing and registration on its exchange.
16 Feb 2018listing compliance notice▲ GoodMajor
the exchange certified PAR PACIFIC HOLDINGS, INC.'s securities for listing, clearing them to begin trading.
14 Feb 2018listing compliance notice▲ GoodMajor
Par Pacific voluntarily moved its stock listing up from the NYSE American to the main New York Stock Exchange, keeping its "PARR" ticker -- a milestone reflecting the company's growth since its earlier small-cap/shell days.
9 Jan 2018material agreement▲ GoodMajor
Par Hawaii agreed to buy 33 retail gasoline/convenience stores in Washington and Idaho from CHS for $70 million, along with a long-term Cenex-branded fuel supply arrangement and a deal for Par's Wyoming Refining subsidiary to supply CHS in the Rockies/Pacific Northwest -- expanding Par Pacific's retail footprint beyond Hawaii.
22 Dec 2017debt financing▲ GoodMajor
The $300 million notes offering closed, and Par Pacific used most of the ~$293 million in proceeds to pay off its KeyBank, Par Wyoming and WRC bank facilities and the J. Aron forward sale, consolidating its debt into cleaner secured notes plus a new asset-based revolver.
13 Dec 2017material agreement● NeutralMajor
Par Pacific priced $300 million of 7.75% senior secured notes due 2025 to refinance its bank debt and unwind a forward-sale arrangement with J. Aron -- a step toward simplifying its capital structure.
