Susser Petroleum Partners LP (SUSP), a wholesale distributor of motor fuels, announced that it increased the aggregate lender commitments under its revolving credit facility by $150 million to a total of $400 million.
SUSP retains the ability to further increase the credit facility by up to $100 million, subject to certain conditions. The facility matures in September 2017.
“This increase provides added capacity as we plan for future growth, and ensures liquidity to meet SUSP’s future acquisition opportunities,” said President and CEO Rocky Dewbre. “We appreciate the strong support from our bank group, including six new banks participating in this facility.”
Houston-based Susser Petroleum Partners LP is a publicly traded partnership formed by Susser Holdings Corp. to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties. Susser Petroleum Partners distributes over 1.5 billion gallons of motor fuel annually from major oil companies and independent refiners to Susser Holdings’ Stripes convenience stores, independently operated consignment locations, convenience stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.