Suburban Propane amends loan, allowing for incurrence of additional debt

By Sara Rosenberg

New York, Feb. 24 - Suburban Propane LP amended its credit facility, allowing for additional short-term debt of up to $20 million for Dec. 1 to April 1 in each fiscal year and up to $10 million in additional capital leases, according to an 8-K filed with the Securities and Exchange Commission Friday.

This allowance for more debt provides the company with additional financial flexibility for general corporate working capital purposes during peak seasonal demand periods, if necessary.

The amendment was completed on Feb. 9.

Wachovia Bank is the administrative agent 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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