Mapco Express launches $205 million credit facility

By Sara Rosenberg

New York, April 6 - Mapco Express Inc. held a bank meeting to launch its proposed $205 million credit facility, according to a market source.

Lehman is the sole lead bank on the deal, but Bank Leumi and SunTrust have joined as agents.

The facility consists of a $40 million five-year revolving credit facility talked at Libor plus 225 basis points and a $165 million six-year term loan talked at Libor plus 275 basis points, the source said.

Proceeds will be used to refinance existing debt and to fund a small dividend to the parent company.

Mapco is a Franklin, Tenn., convenience store and wholesale petroleum distribution company.

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