United Fuel gets $90 million amended and restated credit facility

By Sara Rosenberg

New York, March 30 - United Fuel & Energy Corp. closed on a $90 million amended and restated credit facility due Sept. 30, 2012, according to an 8-K filed with the Securities and Exchange Commission Friday.

The CIT Group/Business Credit, Inc. is the agent on the deal that was completed on March 27.

The facility consists of a $70 million revolver priced at Libor plus 175 basis points and a $20 million term loan priced at Libor plus 250 bps, of which $5 million was funded at close and $15 million is available for acquisitions.

United Fuel is a Midland, Texas-based distributor and seller of fuels and lubricants.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.