By a News Reporter-Staff News Editor at Energy Weekly News -- PBF Energy Inc. (NYSE:PBF) announced that its subsidiary, PBF Holding Company LLC, has amended and restated its and its subsidiaries' revolving credit agreement. Commitments under the facility have increased from $1.6 billion to $2.5 billion, with an accordion to $2.75 billion. The credit agreement has a five-year term and will be used for working capital and other general corporate purposes.
PBF's Chief Financial Officer Erik Young said, "The increase to our ABL Facility provides our company with increased financial flexibility to grow our existing business and is reflective of our financing partners' commitment to PBF."
UBS AG, Stamford Branch, is the Administrative Agent for the 20-bank syndicate participating in the facility. UBS Securities LLC, Bank of America N.A., Citibank N.A., Natixis, Deutsche Bank Securities Inc., Credit Agricole Corporate and Investment Bank and the Bank of Tokyo-Mitsubishi UFJ Ltd acted as Joint Lead Arrangers and Joint Lead Bookmanagers. About PBF Energy Inc.PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey and Toledo, Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally sensitive manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.
Keywords for this news article include: PBF Energy Inc.
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