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Alon USA Energy to get $250 million term due 2018 with 8% yield
By Angela McDaniels
Tacoma, Wash., Aug. 31 - Alon USA Partners, LP expects to assume a new $250 million six-year term loan from Alon USA Energy, Inc. in connection with its initial public offering of common units, according to an S-1 filing with the Securities and Exchange Commission.
Alon USA Partners expects the term loan to be guaranteed by Alon USA Energy and that the borrowings will yield 8% per year.
After entering into the new term loan, Alon USA Partners will no longer be a guarantor of Alon USA Energy's $450 million term loan facility, and its assets will no longer be subject to a lien securing that term loan.
Alon USA Partners is a limited partnership formed by Alon USA Energy. Alon USA Energy is a refiner and marketer of petroleum products. Both are based in Dallas.
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