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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Agents Syndicated Revolver Amendment for Star Group
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Lenders/Participants
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JPMorgan Chase Bank [Administrative Agent, Joint Lead Arranger, Joint Bookrunner]
Bank of America [Co-Syndication Agent]
Citizens Bank [Co-Syndication Agent, Joint Lead Arranger]
Key Bank [Co-Documentation Agent]
Regions Bank [Co-Documentation Agent]
TD Bank [Co-Documentation Agent]
BMO Harris Bank [Co-Documentation Agent]
Merrill Lynch [Joint Lead Arranger, Joint Bookrunner]
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Structure
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$300MM Revolver Amendment; $100MM T/L
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Amount
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$400.000
Million
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Borrower(s)
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Star Group, L.P.
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Description
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A fourth amended and restated asset-based revolving credit facility, which expires in July 2023 and provides the ability to borrow up to $300 million ($450 million during the heating season from December through April of each year) on a revolving line of credit for working capital purposes, including the issuance of up to $25 million in letters of credit. The amended and restated credit facility also provides for a $100 million five year senior secured term loan; proceeds from the term loan will be used to repay existing outstanding debt. The term loan payment schedule is comprised of $10 million per year plus 25% of excess cash flow (not to exceed $15 million annually), as defined in the credit agreement, less certain voluntary prepayments made during the year, with final payment at maturity. Additional details are provided in the Company's filings with the SEC.
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Industry
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Energy Services
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| Related Tags |
Bank of America, BMO Harris Bank, Citizens Bank, JPMorgan Chase Bank, Key Bank, Merrill Lynch, Regions Bank, TD Bank
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ABL Advisor
Deal Tables
2025
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