Blueknight Announces Closing of New $300 Million Revolving Credit Facility
Blueknight Energy Partners L.P. - Common Units representing Limited Partner Interests (BKEP)
Last blueknight energy partners l.p. - common units representing limited partner interests earnings: 8/7 04:30 pm
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Source: Business Wire
TULSA, Okla.--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) announced today that it has closed a new four-year, $300.0 million senior secured revolving credit facility (the “New Credit Facility”). The New Credit Facility will replace the previous credit facility which was set to mature in May 2022.“We are very pleased with the successful execution and outcome of our new credit facility,” said Andrew Woodward, Chief Executive Officer. “The extension represents another critical step forward in Blueknight’s transformation, as it strengthens our liquidity position and enhances our visibility into our cost of capital through May 2025 while maintaining financial flexibility for future growth. We are grateful for the continued support from our existing lending partners and are pleased to welcome several new participants to the lender group.”The relevant terms and covenants contained in the New Credit Facility are summarized
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