Printer Friendly

SANTA FE PACIFIC PIPELINE PARTNERS L.P. ANNOUNCES NEW CREDIT FACILITIES

 LOS ANGELES, Oct. 22 /PRNewswire/ -- Santa Fe Pacific Pipeline Partners L.P., (NYSE: SFL) announced the completion of a new $60 million, multiyear bank credit facility and a $20 million working capital facility. The floating rate, long-term facility provided by Bank of America, Chemical Bank, and Bank of Montreal, is available to finance capital expenditures and refinance existing first mortgage debt. The working capital facility, provided by the same banks, replaces an existing $20 million facility originally established in April 1990.
 Irvin Toole Jr., chairman, president and chief executive officer of the General Partner stated, "The new long-term facility, will give the partnership added financial flexibility during the next several years and provides a vehicle for refinancing several tranches of the partnership's first mortgage notes which become payable beginning in December 1994."
 Santa Fe Pacific Pipeline Partners L.P. is the largest independent refined petroleum products pipeline in the United States in terms of revenue generated. The partnership serves six Western states with approximately 3,300 miles of common carrier pipeline and 14 truck loading terminals.
 -0- 10/22/93
 /CONTACT: Thomas L. Lambert, manager, investor relations, 213-486-7766/
 (SFL)


CO: Santa Fe Pacific Pipeline Partners L.P. ST: California IN: OIL SU:

MF-EH -- LA021 -- 5858 10/22/93 15:53 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 22, 1993
Words:211
Previous Article:FREMONT GENERAL CORP. CALLS 7 1/4 PERCENT CONVERTIBLE SUBORDINATED DEBENTURES DUE 2011
Next Article:KOREAN AIR ORDERS TWO MORE MD-80 TWIN JETS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters