PBF Energy upsizes five-year revolver commitments to $2.5 billion

By Susanna Moon

Chicago, Aug. 15 – PBF Energy Inc. said its subsidiary, PBF Holding Co. LLC, lifted commitments under its revolving facility to $2.5 billion from $1.6 billion, with an accordion to $2.75 billion.

The company amended its revolving credit agreement with UBS AG, Stamford Branch as the administrative agent for the 20-bank syndicate, according to a company press release.

UBS Securities LLC, Bank of America NA, Citibank NA, Natixis, Deutsche Bank Securities Inc., Credit Agricole Corporate and Investment Bank and Bank of Tokyo-Mitsubishi UFJ Ltd. are the joint lead arrangers and joint lead bookmanagers.

The credit agreement has a five-year term and will be used for working capital and other general corporate purposes.

“The increase to our ABL facility provides our company with increased financial flexibility to grow our existing business,” Erik Young, PBF’s chief financial officer, said in the press release.

PBF is a Parsippany, N.J.-based operator of oil refineries and related facilities.

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