Suburban Propane Partners, L.P., a nationwide distributor of propane, fuel oil and related products and services, as well as a marketer of natural gas and electricity, announced the refinancing of the senior secured credit facility (the "Revolving Credit Facility") of its operating partnership, Suburban Propane, L.P. The new five-year revolving credit facility amends and restates the previous revolving credit facility dated January 5, 2012 to, among other things: (i) extend the maturity date from January 5, 2017 through March 3, 2021; (ii) reduce the borrowing rate; (iii) amend certain affirmative and negative covenants and (iv) increase the revolving credit commitments thereunder from $400 million to $500 million.

The revolving credit facility will be used to provide liquidity for general corporate purposes, including working capital, capital expenditures and acquisitions. The bank syndication supporting the new facility is comprised of a diverse group of fourteen banks led by Bank of America Merrill Lynch and Wells Fargo Securities, LLC, as joint lead arrangers and joint book runners. Bank of America, N.A. is serving as administrative agent.

Headquartered in Whippany, NJ, Suburban Propane Partners has been in the customer service business since 1928. The artnership serves the energy needs of approximately 1.1 million residential, commercial, industrial and agricultural customers through 700 locations in 41 states.