Par Pacific cuts term loan margin by 50 basis points, amends Hawaii Renewables facility
Par Pacific amended its term loan with Wells Fargo, reducing the Applicable Margin by 50 basis points, so SOFR loans now bear interest at SOFR plus 3.25%. A subsidiary joint venture, Hawaii Renewables, also entered an uncommitted letter of credit facility of up to $25 million and an amended pledge agreement, which changes the collateral securing its obligations to Wells Fargo.
Key points
- Term loan margin reduced by 50 basis points under Amendment No. 3, dated December 17, 2025
- SOFR loans now bear interest at SOFR plus 3.25%; base rate loans at base rate plus 2.25%
- Hawaii Renewables entered an uncommitted letter of credit facility with Wells Fargo for up to $25,000,000, dated December 16, 2025
- Amended and restated pledge agreement modifies the collateral securing Hawaii Renewables' obligations to Wells Fargo
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 19, 2025.
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