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SGU - Star Group announces new $400M credit facility
Star Group L.P.
Star Group ( NYSE: SGU ) stated Thursday that it has entered into a sixth amended and restated asset-based credit facility for up to $400M.
The facility expires in July 2027 and provides extended $550M lending option during the heating season from December through April each year. It also offers a $165M five year senior secured term loan.
The company said proceeds from the term loan will be used to repay existing outstanding debt.