ALON USA ENERGY, INC. (NYSE:ALJ) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k

8 years ago

ALON USA ENERGY, INC. (NYSE:ALJ) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On December 8, 2016, Alon USA Energy, Inc. (the Company), and
Export Development Canada (EDC), entered into a Loan Agreement
(the Loan Agreement) for a term loan in the amount of USD
35,000,000.

The Loan Agreement bears interest at a rate equal to LIBOR plus a
margin of 3.75% per annum. Principal payments under the Loan
Agreement will be made in nine consecutive quarterly installments
commencing December 2018. The loan will mature on December 8,
2020.

The term loan is secured by a lien on certain of the Companys
asphalt terminals. The Loan Agreement includes customary events
of default and restrictive covenants, including maintenance
financial covenants.

Proceeds under the Loan Agreement are intended to be used for
general corporate purposes.

A copy of the Loan Agreement is attached as Exhibit 10.1 and is
incorporated herein by reference. The description of the Loan
Agreement contained herein is qualified in its entirety by
reference to the full text of the Loan Agreement.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.



Exhibit Number		Description
10.1		Loan Agreement, dated as of December 8, 2016, by and between Alon USA Energy, Inc. and Export Development Canada.

About ALON USA ENERGY, INC. (NYSE:ALJ)
Alon USA Energy, Inc. is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company operates through three segments: refining and marketing, asphalt and retail. Its refineries produce petroleum products, including various grades of gasoline, diesel fuel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt and other petroleum-based products. The Company holds interests in Alon USA Partners, LP, which owns a crude oil refinery in Big Spring, Texas. The Company’s refining and marketing segment includes sour crude oil refinery located in Big Spring, Texas, a light sweet crude oil refinery located in Krotz Springs, Louisiana and heavy crude oil refineries located in Paramount, Bakersfield and Long Beach, California (California refineries). It owns or operates approximately 10 asphalt terminals. It operates approximately 310 owned and leased convenience store sites. ALON USA ENERGY, INC. (NYSE:ALJ) Recent Trading Information
ALON USA ENERGY, INC. (NYSE:ALJ) closed its last trading session down -0.52 at 11.25 with 889,591 shares trading hands.