When does the Aplus Credit Facility mature?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
ble semi-annually on April 30 and October 30 of each year.
Energy Transfer guarantees collection to the Issuers with respect to the payment of the principal amount of the 5.875% Senior Notes due 2028. Energy Transfer is not subject to any of the covenants under the Indenture.
Credit Facility
On April 7, 2022, we entered into a Second Amended and Restated Credit Agreement among the Partnership, as borrower, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent, collateral agent, swingline lender and a letter of credit issuer (the "Credit Facility"). The Credit Facility is a $1.50 billion revolving credit facility which matures on April 7, 2027 (which date may be extended in accordance with the terms of the Credit Facility). The Credit Facility can be increased from time to time upon our written request, subject to certain conditions,
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the company has a Credit Facility that is a $1.50 billion revolving credit facility. This Credit Facility matures on April 7, 2027. However, the maturity date may be extended based on the terms of the Credit Facility agreement.
The Credit Facility can also be increased upon Aplus's written request, subject to certain conditions, up to an additional $500 million. Borrowings under the Credit Facility will bear interest at a base rate, which is based on the higher of (a) the Federal Funds Rate plus 0.500%, (b) Bank of America's prime rate, and (c) one-month Term SOFR.
As of December 31, 2023, the balance on the Credit Facility was $411 million, with $5 million in standby letters of credit outstanding. The unused availability on the Credit Facility at that time was $1.084 billion. The weighted average interest rate on the total amount outstanding at December 31, 2023, was 7.54%.