STAMFORD, Conn., Oct. 01, 2024 (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 seventh amended and restated asset-based credit facility (the "Credit Facility"), which expires in September 2029 and provides the borrower under the Credit Facility (a subsidiary of the Company) with an ability to borrow up to $400 million ($475 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 $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.
About Star Group, L.P.Star Group, L.P. is a full service provider specializing in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings. The Company also sells and services heating and air conditioning equipment to its home heating oil and propane customers and, to a lesser extent, provides these offerings to customers outside of its home heating oil and propane customer base. ...
