News Releases

Baker Botts Represents Sprague Resources LP in Upsize and Extension of its $2.0 Billion Senior Secured Credit Facility


Deal Description: On May 11, 2021, Sprague Operating Resources LLC and Kildair Service ULC, subsidiaries of Sprague Resources LP (“Sprague”) (NYSE: SRLP), entered into an amendment (the “Amendment”) to their secured revolving credit facility (the “Credit Facility”) with MUFG Bank, Ltd., as administrative agent, and a syndicate of lenders (the “Lenders”). The Amendment amended the Credit Facility to, among other things, increase the Lenders’ commitments under the Credit Facility’s revolving acquisition facility from $430.0 million to $450.0 million, extend the maturity date of the Credit Facility from May 2022 to May 2023 and modify the margin for borrowings under the Credit Facility.

Baker Botts represented Sprague in the transaction.

Sprague is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. Sprague also provides storage and handling services for a broad range of materials.

Baker Botts Lawyers/Office Involved:

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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