secwatch.observer — SEC 8-K summary
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Issuer:     STAR GROUP, L.P. (SGU)
CIK:        0001002590
Form:       8-K
Filed at:   2024-10-01T23:59:59+00:00
Accession:  0000950170-24-110563
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1002590/000095017024110563/0000950170-24-110563-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1002590/000095017024110563/sgu-20240927.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-110563

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