USD Partners to draw $173 million under credit facility for purchase

By Wendy Van Sickle

Columbus, Ohio, Oct. 13 – USD Partners LP will borrow about $173 million from its senior secured credit facility to fund part of its purchase of all of the membership interests of Casper Crude to Rail, LLC, according to an 8-K filed with the Securities and Exchange Commission.

The total purchase price of about $225 million will also be funded by about $35 million of cash on hand and $16.7 million of USD common units.

Based in Houston, USD Partners is a master limited partnership formed to acquire, develop and operate energy-related rail terminals. The Casper terminal in Casper, Wyo., consists of a crude oil loading rail terminal, six customer-dedicated storage tanks and a six-mile long, 24-inch diameter pipeline.

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