Sunoco LP has announced an amendment to its Third Amended and Restated Credit Agreement, marking a significant change in its financial arrangements. Effective May 16, 2025, the amendment involves collaboration with Bank of America, N.A., among other lenders and letter of credit issuers. Key modifications include an increase in the letter of credit sublimit from $100 million to $250 million and provisions allowing Sunoco and its subsidiaries to incur additional debt under specific conditions. Notably, the amendment facilitates the incurrence of up to $2,650 million in Permitted Parkland Acquisition Bridge Debt and up to $3,400 million in Permitted Parkland Backstop Bridge Debt. Moreover, a $1.50 billion debt financing commitment from Barclays Bank PLC and Royal Bank of Canada has been terminated. This development underscores Sunoco's strategic financial maneuvers as it navigates its acquisition and expansion plans.
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