Par Pacific Reshapes Capital Structure With New Debt Financing

Par Pacific Holdings ( (PARR) ) has issued an update.

On May 14, 2026, Par Petroleum, LLC, a wholly owned subsidiary of Par Pacific Holdings, completed a private placement of $500 million in 7.375% senior unsecured notes due 2034 and entered into an amended and restated asset-based revolving credit facility. The notes, guaranteed on a senior unsecured basis by Par Pacific and certain subsidiaries, carry semi-annual interest payments and include optional redemption features, change-of-control protections and restrictive covenants.

On the same date, the company increased commitments under its senior secured asset-based revolver to up to $1.8 billion, added a $500 million incremental facility and extended the facility’s maturity to May 14, 2031, with pricing tied to SOFR plus a margin based on excess availability. Par Pacific used the net proceeds from the notes, together with cash on hand and borrowings under the enlarged ABL, to fully repay and terminate Par Petroleum’s term loan due 2030, materially reshaping its capital structure, enhancing liquidity and extending debt maturities for stakeholders.

The most recent analyst rating on (PARR) stock is a Buy with a $78.00 price target. To see the full list of analyst forecasts on Par Pacific Holdings stock, see the PARR Stock Forecast page.

Spark’s Take on PARR Stock

According to Spark, TipRanks’ AI Analyst, PARR is a Neutral.

The score is driven primarily by improved profitability and a healthier leverage profile, supported by a constructive uptrend in the stock (price above key moving averages with positive MACD). It is tempered by weak/volatile cash conversion and recent free-cash-flow decline, plus near-term operational and timing headwinds (Hawaii price-lag, working-capital outflows, and a turnaround shifting impact into Q3). Valuation appears reasonable on P/E, but no dividend yield is available to strengthen the valuation/income profile.

To see Spark’s full report on PARR stock, click here.

More about Par Pacific Holdings

Par Pacific Holdings, Inc., headquartered in Houston, Texas, is a growing energy company providing renewable and conventional fuels to the western United States. The company owns and operates 219,000 barrels per day of refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, supported by 13 million barrels of storage and marine, rail, rack and pipeline assets.

Par Pacific also operates the Hele retail fuel brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest, and holds a 46% stake in Laramie Energy, a natural gas producer focused on Western Colorado. This integrated footprint positions Par Pacific across refining, logistics, retail and upstream gas production in key Western U.S. energy markets.

Average Trading Volume: 1,494,464

Technical Sentiment Signal: Buy

Current Market Cap: $3.16B

Learn more about PARR stock on TipRanks’ Stock Analysis page.