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MI - Citgo places over $1B of 5-year notes privately, pays down debt - June 2020
Citgo Petroleum Corp. closed the private placement of $1.125 billion of 7% senior secured notes due 2025 on June 9. The notes will remain unregistered for the time being. The offering was upsized from an initially contemplated $750 million. The company said proceeds would repay all $614 million outstanding under its term loan B due 2021, including accrued and unpaid interest. Proceeds will also fund working capital and general corporate purposes. Citgo has a......
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