Citgo to repay $614 million term loan B with note proceeds

By Sara Rosenberg

New York, June 2 – Citgo Petroleum Corp. plans to repay all $614 million outstanding under its term loan B due 2021 using proceeds from a $750 million senior secured note offering, according to a news release.

Remaining proceeds from the notes will be used to pay all fees and expenses in connection with the offering, and for working capital and general corporate purposes.

Citgo is a Houston-based owner and operator of complex refineries.

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