Suburban Propane Partners L.P. (SPH) has issued an update.
Suburban Propane Partners, L.P. secured a revamped $500 million credit facility, with an option to increase it to $850 million, through a new agreement with Bank of America and other lenders. This updated agreement introduces flexible borrowing options and interest rates tied to market benchmarks, catering to the partnership’s evolving financial needs. The credit line is backed by substantial collateral, including key assets, and is subject to both routine and financial covenants to ensure the partnership’s operational and financial stability. This strategic financial move is pivotal for the partnership’s continued growth and operational efficiency.
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