Suburban Propane Partners, L.P. announced the refinancing of the $500 million senior secured credit facility of its operating partnership, Suburban Propane, L.P. The new five-year Revolving Credit Facility amends and restates the previous revolving credit facility dated March 5, 2020 to, among other things, extend the maturity date from March 5, 2025 to the earlier of (A) the date that is 91 days prior to maturity of the 5.875% senior notes, due March 1, 2027, of Suburban Propane Partners, L.P. and Suburban Energy Finance Corporation (unless the notes have been refinanced prior to such date) or (B) March 15, 2029. As with the current Revolving Credit Facility, Suburban Propane, L.P. retains the ability to increase the facility size to $850 million. The bank syndication supporting the new facility is comprised of a diverse group of eight banks led by Bank of America, N.A. as Joint Lead Arranger and Joint Book Runner, Wells Fargo Bank, National Association, JP Morgan Chase Bank, N.A., Citizens Bank, National Association, Capital One, National Association, and M&T Bank as Joint Lead Arrangers, Joint Book Runners and Co-Syndication Agents, and HSBC Bank USA, N. A and CoBank, ACB as Co-Documentation Agents.

Bank of America, N.A. is serving as Administrative Agent.