15.08.2014 23:49:56
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PBF Energy: Credit Facility Upsizing To $2.5 Bln - Quick Facts
(RTTNews) - Oil refiner PBF Energy Inc (PBF) said Friday its subsidiary, PBF Holding Co LLC, has amended and restated the revolving credit agreement, including that of its subsidiaires; as a result, commitments under the facility have increased to $2.5 billion from $1.6 billion, with an accordion to $2.75 billion.
The credit agreement has a five-year term and will be used for working capital and other general corporate purposes.
PBF's Chief Financial Officer Erik Young said: "The increase to our facility provides with increased financial flexibility to grow existing busines."
UBS AG, Stamford Branch, is the Administrative Agent for the 20-bank syndicate participating in the facility. Joint lead arrangers include UBS Securities LLC, Bank of America N.A., Citibank N.A., and Deutsche Bank Securities Inc.
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PBF Energy Inc (A) | 27,75 | -4,28% |
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