Nixon and Blue Dolphin sign $10 million 5.75% term loan

Chicago, Oct. 7 – Nixon Product Storage LLC and subsidiary Blue Dolphin Energy Co. entered into a $10 million term loan with Greater Nevada Credit Union on Oct. 1, according to an 8-K filing with the Securities and Exchange Commission.

The loan has a fixed 5.75% interest rate.

For the first 36 months of the 10-year term, the loan is interest-only.

Monthly principal and interest payments start after that period until maturity in October 2031.

Proceeds will be used for working capital and for loan closing costs.

The loan is secured by a deed of trust lien on approximately 56 acres of land and improvements.

Blue Dolphin is a Houston-based oil and natural gas exploration company.

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