Loan & DebtJul 16, 2026, 04:13 PM
CrossAmerica Partners Extends Credit Facility Maturity to 2031
AI Summary
CrossAmerica Partners LP and its subsidiary, Lehigh Gas Wholesale Services, Inc., entered into an amendment to their Credit Agreement. This amendment extends the maturity date of the credit facility from March 31, 2028, to July 15, 2031. Additionally, it removes the SOFR credit spread adjustment and modifies the Consolidated Leverage Ratio covenant, setting it at 5.00 to 1.00 until September 30, 2027, and then at 4.75 to 1.00 thereafter.
Key Highlights
- Credit facility maturity date extended from March 31, 2028, to July 15, 2031.
- SOFR credit spread adjustment removed from the Credit Agreement.
- Consolidated Leverage Ratio covenant set at 5.00:1.00 for fiscal quarters through September 30, 2027.
- Consolidated Leverage Ratio covenant set at 4.75:1.00 for fiscal quarters from December 31, 2027, onwards.
- The amendment to the Credit Agreement was entered into on July 15, 2026.
Price Impact
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