Suburban Propane Partners Announces Refinancing of Revolving Credit Facility

Suburban Propane Partners, L.P.

today announced the successful amendment and restatement of the $250 million senior secured credit facility of its operating partnership, Suburban Propane, L.P. The new five-year Amended Revolving Credit Facility amends and restates the previous revolving credit facility dated June 26, 2009 to, among other things: (i) extend the maturity date from June 25, 2013 through January 4, 2017; (ii) reduce the borrowing rate and commitment fees; and, (iii) amend certain affirmative and negative covenants. Proceeds from the Amended Revolving Credit Facility will be used to provide liquidity for general corporate purposes, including working capital, capital expenditures and acquisitions. The Amended Revolving Credit Facility may be increased in the future up to $400 million at the Partnership's request, under certain circumstances. The bank syndication supporting the new facility is comprised of a diverse group of nine banks led by BofA Merrill Lynch and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Joint Book Managers. BofA Merrill Lynch is serving as Administrative Agent.