Latham Advises on Par Pacific’s US$500 Million Senior Notes Offering

Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) (Par Pacific) has announced that Par Petroleum, LLC, a wholly owned subsidiary of Par Pacific, priced a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of US$500 million aggregate principal amount of 7.375% senior notes due 2034. The notes mature on June 1, 2034, and will be issued at par. The company intends to use the net proceeds from the offering, together with cash on hand or borrowings under its asset‑based revolving credit facility, to repay all of the aggregate principal balance under and terminate its outstanding term loan.

Latham & Watkins LLP advised the initial purchasers on the transaction with a corporate deal team led by Austin partner David Miller, with associates Giulia Franzoso, Carol Bale, and Regan Barney. Advice was also provided on tax matters by Houston partner Bryant Lee, with associate Graham Core; and on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Brandon Kerns.