USD Partners draws $178 million under credit facility to buy terminal

By Angela McDaniels

Tacoma, Wash., Nov. 17 – USD Partners LP borrowed $178 million under its senior secured credit facility on Tuesday, according to an 8-K filed with the Securities and Exchange Commission.

The draw was used to help fund the acquisition of Casper Crude to Rail, LLC.

The company paid $210.4 million in cash and $16.68 million in common units.

Funding for the acquisition also came from cash on hand.

Based in Houston, USD Partners is a master limited partnership formed to acquire, develop and operate energy-related rail terminals.

Casper Crude to Rail is a terminal in Casper, Wyo., consisting 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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