FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Star Gas Partners Amends Credit Facility With JPMorgan Chase, Others

January 15, 2014, 07:37 AM
Filed Under: Energy Services

Star Gas Partners, a home energy distributor and services provider specializing in heating oil,has entered into a second amended and restated $450 million credit facility. The amended and restated credit agreement extends the term of the agreement from June 2016 to June 2017, or January 2019 provided that certain conditions have been met. The bank syndicate supporting the revolving credit facility is comprised of fifteen participants, with JPMorgan Chase Bank, N.A. as Administrative Agent, Bank of America, N.A. as Co-Syndication Agent, RBS Citizens, N.A. as Co-Syndication Agent, Key Bank National Association, Regions Bank, Wells Fargo Capital Finance, LLC and BMO Harris Bank, N.A., as Co-Documentation Agents, and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., and RBS Citizens, N.A. as Joint Lead Arrangers and Joint Book Runners.

Richard F. Ambury, Chief Financial Officer, commented, "We are pleased to announce that our credit facility has once again been amended and restated, increasing the facility by $100 million and extending the maturity. We appreciate the continued support of all fifteen institutions participating in this credit agreement."

Star Gas Partners, L.P. is the nation's largest retail distributor of home heating oil, based upon sales volume, operating throughout the Northeast and Mid-Atlantic.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.