Par Pacific Announces Proposed $550 Million Senior Secured Term Loan B Due 2030 and Fourth Quarter 2022 Operating Update
Summary
Based on such preliminary unaudited information, we estimate the following financial and operational results:(1) Please see Use of Non-GAAP Information below.This news release does not constitute a notice of redemption under the provisions of the indentures governing the notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security, or repay any loans. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. Our independent registered public accounting firm has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial and operational information included in this news release. Accordingly, our independent registered public accounting firm does not express an opinion or any other form of assurance with respect thereto. We believe Adjusted Net Income (Loss) and Adjusted EBITDA (as defined below) are useful supplemental financial measures that allow investors to assess the financial performance of our assets without regard to financing methods, capital structure, or historical cost basis, the ability of our assets to generate cash to pay interest on our indebtedness, and our operating performance and return on invested capital as compared to other companies without regard to financing methods and capital structure.