JPMorgan, SunTrust Agent NuStar Credit Agreement
NuStar GP Holdings entered into a 364-day revolving credit agreement with JPMorgan Chase Bank serving as administrative agent and SunTrust Bank as syndication agent, to replace the existing 364-day revolving credit agreement. The outstanding borrowings of more than $18.54 million under the prior credit facility were paid off as of June 28, 2013 and all commitments under the prior credit facility were cancelled as of such date.
According to the company’s 8K filing, the new facility matures on June 27, 2014 and has a borrowing capacity of up to $40 million, of which up to $10 million may be available for letters of credit. NuStar’s obligations under the credit facility are guaranteed by Riverwalk Holdings, a wholly owned subsidiary of NuStar.
NuStar is one of the nation’s largest asphalt refiners and marketers and operators of petroleum product terminals and petroleum liquids pipelines.