Star Group enters new $400M credit facility with $165M term loan to repay debt

STAR GROUP, L.P.

Revolver size of $400M ($550M Dec-Apr); letters of credit up to $25M.
$165M five-year senior secured term loan to repay existing outstanding debt.
Facility matures July 6, 2027; quarterly term-loan payments of $4.1M.
Covenants: fixed-charge coverage >=1.1:1, leverage ratios 3.0:1 (Jun/Sep) and 5.5:1 (Dec/Mar).
Syndicate includes JPMorgan, Bank of America, Citizens Bank, Keybank, TD Bank, BMO, Wells Fargo.

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