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Par Pacific Unit Plans $500 Million Private Placement of Senior Notes

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Par Pacific (PARR) said Monday its Par Petroleum unit plans to offer $500 million of senior unsecured notes due 2034 in a private placement.

The company said Par Pacific and certain subsidiaries are expected to guarantee the notes on a senior unsecured basis.

Par Pacific said it plans to use the net proceeds from the offering, along with cash on hand or borrowings under its asset-based revolving credit facility, to repay and terminate Par Petroleum's term loan due 2030.

PARR shares were up 2% in early trading Monday.

Price: $65.06, Change: $+0.69, Percent Change: +1.06%

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