Core-Mark Holding amended loan priced at Libor plus 325 basis points

By Sara Rosenberg

New York, Feb. 5 - Core-Mark Holding Co. Inc.'s amended credit facility carries initial pricing of Libor plus 325 basis points, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Pricing on the facility can range from Libor plus 275 bps to 350 bps based on EBITDA.

There is also a commitment fee that can range from 50 bps to 62.5 bps based on line usage.

Under the amendment, the company extended the maturity for four years and reduced the revolver size to $200 million from $250 million.

JPMorgan and BMO Capital Markets acted as the co-lead arrangers and bookrunners on the amendment, which was completed on Feb. 2.

Core-Mark is a San Francisco-based wholesale distributor to the convenience retail industry.

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