Par Pacific gets $225 million term loan to help fund U.S. Oil buyout

By Susanna Moon

Chicago, Nov. 27 – Par Pacific Holdings, Inc. said it will use proceeds of a $225 million secured term loan and $150 million of equity financing to fund its acquisition of U.S. Oil & Refining Co. and some affiliated entities for $358 million plus net working capital.

Committed debt financing is being provided by Goldman Sachs, according to an announcement.

The equity financing is being provided by U.S. Oil's financial sponsor, but the company said it may seek equity financing via the capital markets.

The deal is expected to close in January.

Par Pacific is a Houston-based company that manages and maintains interests in energy-related assets.

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