Star Group enters $400M/$475M ABL facility and $210M term loan, maturing Sept 2029

STAR GROUP, L.P.

New credit facility provides up to $400M revolving line ($475M Dec-Apr) and a $210M five-year secured term loan.
Proceeds used to repay $132.1M existing debt; remaining $77.9M earmarked for acquisitions and corporate purposes.
Term loan requires quarterly payments of $5.3M plus annual excess cash flow sweep up to $4M.
Covenants include fixed charge coverage >=1.1:1.0 and senior secured leverage <=3.0:1.0 (June/Sept) and <=5.5:1.0 (Dec/Mar).
Facility expires September 27, 2029; restrictions placed on distributions and additional indebtedness.

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