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BMO’s ABL Group Agents $700MM Facility for Chelsea Petroleum Products

January 15, 2016, 07:56 AM
Filed Under: Fuel & Petroleum

BMO Harris Bank’s Asset Based Lending group, a leading provider of middle market asset-based finance solutions, announced it was joint lead arranger, joint bookrunner and administrative agent for a $700 million senior secured credit facility to Chelsea Petroleum Products I, LLC (“Chelsea”), an affiliate of Arclight Capital.
Chelsea, through its wholly owned subsidiary Gulf Oil LP, is a terminal operator and wholesaler of refined petroleum products, including heating oil, diesel fuel, and gasoline. The company’s extensive distribution network includes gasoline retail centers, wholesale distributors, and commercial and industrial accounts 

BMO Harris Bank’s Asset-Based Lending team provides flexible financing solutions to support acquisitions, recapitalizations, growth in working capital, restructurings, or turnaround situations.

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