PBF Energy: Credit Facility Upsizing To $2.5 Bln - Quick Facts

(RTTNews) - Oil refiner PBF Energy Inc (PBF) said Friday its subsidiary, PBF Holding Co LLC, has amended and restated the revolving credit agreement, including that of its subsidiaires; as a result, commitments under the facility have increased to $2.5 billion from $1.6 billion, with an accordion to $2.75 billion.

The credit agreement has a five-year term and will be used for working capital and other general corporate purposes.

PBF's Chief Financial Officer Erik Young said: "The increase to our facility provides with increased financial flexibility to grow existing busines."

UBS AG, Stamford Branch, is the Administrative Agent for the 20-bank syndicate participating in the facility. Joint lead arrangers include UBS Securities LLC, Bank of America N.A., Citibank N.A., and Deutsche Bank Securities Inc.