Star Group, a home energy distributor and services provider, entered into a sixth amended and restated asset-based credit facility, which expires in July 2027 and provides the borrower under the credit facility (a subsidiary of the company) with the ability to borrow up to $400 million ($550 million during the heating season from December through April each year) on a revolving line of credit for working capital purposes, including the issuance of up to $25 million in letters of credit. The credit facility also provides for a $165 million five-year senior secured term loan; proceeds from the term loan will be used to repay existing outstanding debt.

The bank syndicate supporting the credit facility is comprised of 10 participants acting in various capacities, with JPMorgan Chase Bank as administrative agent, Bank of America and Citizens Bank as co-syndication agents, Keybank, TD Bank, BMO Harris Bank and Wells Fargo Bank as co-documentation agents and J.P. Morgan Chase Bank, Bank of America and Citizens Bank as joint lead arrangers and joint book runners.