Alon USA amends, gets $240 million loan due 2016 at Libor plus 350 bps

By Susanna Moon

Chicago, May 24 - Alon USA, LP, a subsidiary of Alon USA Partners, LP, closed a $240 million credit facility due in March 2016 on Thursday.

The company amended its credit agreement dated June 22, 2006 with Israel Discount Bank of New York as administrative agent, co-arranger and collateral agent and Bank Leumi USA as co-arranger, according to an 8-K filed Friday with the Securities and Exchange Commission.

Interest on the new loans will be Libor plus 350 basis points, subject to an overall minimum interest rate of 4%.

The amended facility contains restrictive covenants including maintenance financial covenants.

The refiner and marketer of petroleum products is based in Dallas.

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