---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-011463"
form_type: "8-K"
ticker: "CAPL"
cik: "0001538849"
company_name: "CrossAmerica Partners LP"
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T06:58:06.456648+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CrossAmerica Partners upsizes credit facility to $925M, extends maturity to 2028

## Summary
- New $925M revolving credit facility, up from $750M; can be increased by additional $350M.
- Maturity extended from April 1, 2024 to March 31, 2028.
- Proceeds used to repay $200M subsidiary facility financing 7-Eleven/Speedway acquisitions.
- Borrowings bear interest at SOFR plus 1.75%-2.75% or base rate plus 0.75%-1.75%.
- Covenants include Consolidated Leverage Ratio (5.25x-4.75x) and Interest Coverage Ratio ≥2.50x.

## SEC filing metadata
- accession: 0000950170-23-011463
- form_type: 8-K
- ticker: CAPL
- cik: 0001538849
- company_name: CrossAmerica Partners LP
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538849/000095017023011463/0000950170-23-011463-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538849/000095017023011463/capl-20230331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-011463
- JSON: https://secwatch.observer/filing/0000950170-23-011463.json
- Plain text: https://secwatch.observer/filing/0000950170-23-011463.txt

## Key facts
- Debt Financings
  CrossAmerica Partners LP amended revolving credit of $925 million with Citizens Bank, N.A. at SOFR plus a margin ranging from 1.75% to 2.75% per annum maturing March 31, 2028.
  - Instrument: revolving credit
  - Principal: $925 million
  - Counterparty: Citizens Bank, N.A.
  - Rate: SOFR plus a margin ranging from 1.75% to 2.75% per annum
  - Maturity: March 31, 2028
  - Event: amendment
  source text: The A&R Credit Agreement provides for an increase of the senior secured revolving credit facility from $750 million to $925 million and extends the maturity date from April 1, 2024 to March 31, 2028.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538849/000095017023011463/0000950170-23-011463-index.htm
- Material Agreements
  CrossAmerica Partners LP entered into Amendment and Restatement Agreement with Citizens Bank, N.A. valued at $925,000,000 credit facility increased from $750,000,000, maturity extended to March 31, 2028 (effective 2023-03-31).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citizens Bank, N.A.
  - Value: $925,000,000 credit facility increased from $750,000,000, maturity extended to March 31, 2028
  - Effective: 2023-03-31
  source text: On March 31, 2023, CrossAmerica Partners LP, a publicly traded Delaware limited partnership (the “Partnership”), and its subsidiary, Lehigh Gas Wholesale Services, Inc., a Delaware corporation (together with the Partnership, the “Borrowers”), entered into an Amendment and Restatement Agreement, dated as of March 31, 2023 (the “A&R Agreement”), by and among the Borrowers, certain domestic subsidiaries of the Borrowers party thereto, as guarantors (the “Guarantors”), the lenders party thereto, and Citizens Bank, N.A., as administrative agent, swing line lender and L/C issuer (the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538849/000095017023011463/0000950170-23-011463-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.