Deal Description: Sprague Resources LP (“Sprague”) (NYSE: SRLP), the parent company of Sprague Operating Resources LLC and Kildair Service ULC (the “Borrowers”), announced today the signing of a second amended and restated senior secured credit agreement. The Credit Agreement provides for (i) a committed U.S. dollar revolving working capital facility of up to $465.0 million, (ii) an uncommitted U.S. dollar revolving working capital facility of up to $200.0 million, (iii) a multicurrency revolving working capital facility of up to $85.0 million and (iv) a revolving acquisition facility of up to $430.0 million. The Credit Agreement matures on May 19, 2022.
Baker Botts represented Sprague Resources LP in the transaction.
Value: 1.18 Billion
Baker Botts Lawyers/Office Involved:
Finance: Robert Wann (Partner, New York); Chad Davis (Senior Associate, Houston); Taylor Courtade (Associate, Dallas) and Keegan Bobholz (Associate, Houston)
Tax: Michael Bresson (Partner, Houston) and Scott Langley (Special Counsel, New York)
Environmental: Matthew Kuryla (Partner, Houston) and Laura Williams (Associate, Houston)
Employee Benefits: Gail Stewart (Partner, Houston) and Krisa Benskin (Special Counsel, Houston)
Corporate: Adorys Velazquez (Partner, New York) and Lee Davis (Senior Associate, Washington D.C.)
For more information, please see Sprague Resources LP’s news release here.
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