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Star Gas Partners LP(SGU-N)

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Star Group, L.P. Announces New Credit Facility

Globe Newswire - Thu Jul 7, 2022

STAMFORD, Conn., July 07, 2022 (GLOBE NEWSWIRE) -- Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home energy distributor and services provider, today announced that it has entered into a sixth amended and restated asset-based credit facility (the "Credit Facility"), which expires in July 2027 and provides the borrower under the Credit Facility (a subsidiary of the Company) with an ability to borrow up to $400 million ($550 million during the heating season from December through April 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 Credit Facility also provides for a $165 million five year senior secured term loan; proceeds from the term loan will be used to repay existing outstanding debt.


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