Daily News: March 18, 2013

TAB Bank Provides Cosby Oil With $5 Million Revolver

TAB Bank announced it has provided a $5 million senior revolving credit facility for Cosby Oil Company of Santa Fe Spring, CA. The new agreement is a multiyear term deal.

“Everything has been very smooth since we made the decision to finalize our new credit agreement with TAB Bank. The business development team was very attentive and responsive as we worked through the various aspects of completing this transaction. The credit and underwriting teams at TAB were also outstanding. They took the time to understand our business and craft a solution that benefited both parties,” commented Alan Thompson, CFO of Cosby Oil Company.

Founded in 1939, Cosby Oil Company is a petroleum marketer selling diesel, gasoline, and lubricants. They are a distributor for Phillips66 and a member of the Commercial Fueling Network and the Voyager Network.