Houston Fuel Oil to launch $625 million credit facility on Thursday

By Sara Rosenberg

New York, July 15 – Houston Fuel Oil Terminal Co. (formerly Buffalo Gulf Coast Terminals LLC) is set to hold a bank meeting at 10:30 a.m. ET on Thursday to launch a $625 million senior secured credit facility, according to a market source.

Morgan Stanley Senior Funding Inc., Deutsche Bank Securities Inc. and Bank of America Merrill Lynch are the lead banks on the deal.

The facility consists of a $75 million revolver and a $550 million term loan B, the source said.

Proceeds will be used to refinance existing debt.

Houston Fuel is a Houston-based marine terminal for storage of residual fuel oil and crude oil.

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