Suburban Propane amends facility to increase revolver size, extend maturity

By Sara Rosenberg

New York, Aug. 29 - Suburban Propane Partners LP amended its credit facility, increasing the revolving working capital facility to $175 million from $75 million and extending the maturity date to March 31, 2010 to match the maturity date of its $125 million term loan, according to an 8-K filed with the Securities and Exchange Commission Monday.

The company eliminated its stand-alone $75 million letter-of-credit facility and used that credit to help in the revolver upsizing.

The amendment was completed last Friday.

Wachovia is the lead bank on the deal.

Suburban Propane is a Whippany, N.J., company involved in the retail and wholesale marketing of propane, heating oil and related products and services.

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