Alon USA Energy to Borrow $450M

DALLAS -- Alon USA Energy Inc. announced today it is has enlisted Credit Suisse Securities and Goldman Sachs Lending Partners in an effort to secure a $450 million loan.

According to Alon Energy, it plans to use the funds to repay an existing term loan facility totaling about $422 million, pay related transaction costs and expenses, and for general corporate purposes.

If successful, the company also noted the new loan term facility will support the company's public offering of common units representing limited partnership interests of its subsidiary Alon USA Partners LP.