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Petro Stopping amends loan, extending maturity, lowering rate
By Sara Rosenberg
New York, Feb. 21 - Petro Stopping Centers LP amended its credit facility, extending the maturity to Feb. 9, 2009 and lowering pricing, according to an 8-K filed with the Securities and Exchange Commission Wednesday.
Pricing on the facility is now set at Libor plus 175 basis points and the commitment fee was lowered to 37.5 bps.
In addition, the amendment increased the amount allowed for capital expenditures and for building new Petro Stopping Centers.
The amendment was completed on Feb. 16.
Wells Fargo is the administrative agent on the deal.
Petro Stopping is an El Paso, Texas-based operator of truck stops.
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