The RBS Citizens Convenience and Retail Petroleum Finance Group has closed a $43.75 million, five-year credit facility with NJ Energy Realty, LLC, a leading petroleum marketer and wholesale fuel distributor in the New York, New Jersey and Connecticut region.

RBS Citizens is serving as Administrative Agent, Collateral Agent and Letter of Credit Issuer for the transaction.

The transaction includes a $33.2 million loan to refinance existing debt, a $3.85 million revolving line of credit to be used for working capital and letters of credit, and a $6.7 million development line of credit that will be used for capital improvements at existing sites and to finance strategic activities that could include the acquisition and development of new locations and wholesale fuel supply contracts.

“The RBS Citizens Convenience and Retail Petroleum Finance Group knows our industry very well and has delivered a loan structure that meets our needs and accommodates our unique operational structure,” said Mickey Jamal of NJ Energy Realty.  “This transaction will provide us with a platform to continue the growth of both our retail and wholesale businesses.”

“We appreciate the confidence that Mickey and his team, including advisor Todd Anderson, Principal of 1 CapitalPartner, have shown in us,” said Mike Phelps, head of the Convenience and Retail Petroleum Finance Group for RBS Citizens. “This transaction demonstrates our commitment to providing our customers with exactly the products and services they need to be successful.”

The RBS Citizens Convenience and Retail Petroleum Finance Group is focused on meeting the banking and financing needs of the Retail Petroleum/C-Store Industries. With extensive industry expertise, this specialized lender provides financial support to multi-unit operators throughout the United States with a full range of traditional commercial banking products and services including risk management advisory services and interest rate derivatives.