Alon amends revolver, removing consolidated net worth requirement

By Sara Rosenberg

New York, July 20 - Alon USA Energy Inc. amended its revolving credit facility, terminating the minimum consolidated net worth covenant, according to an 8-K filed with the Securities and Exchange Commission Friday.

In addition, the amendment eliminated the requirement that Alon USA, Inc., a subsidiary of the company, deliver audited annual consolidated financial statements and reviewed quarterly consolidated financial statements.

The amendment was completed on July 19, but is effective as of June 29.

Israel Discount Bank of New York is the administrative agent on the deal.

Alon USA Energy is a Dallas-based refiner and marketer of petroleum products.

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