CVR Energy Inc. has amended its existing Amended and Restated ABL Credit Agreement with a group of lenders and Wells Fargo Bank, National Association, extending the facility’s maturity date from June 2027 to February 2031. The amendment also increases the credit facility commitments from $345 million to $550 million, with the option to further increase up to $700 million. Additional changes include the removal of the maximum dollar cap on the letters of credit subfacility, adjustments to interest rate calculations, and updates to the borrowing base and negative covenants, such as the introduction of a new $25 million restricted payments basket.
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