Star Group announces new credit facility

Star Group announced that it has entered into a seventh amended and restated asset-based credit facility which expires in September 2029 and provides the borrower under the Credit Facility with an ability to borrow up to $400 million 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 $210 million five year senior secured term loan; proceeds from the term loan will be used to repay existing outstanding debt of $132.1 million with the balance of $77.9 million available for certain identified acquisitions and general corporate purposes.