HOUSTON , Sept. 23, 2022 /PRNewswire/ -- CITGO Petroleum Corporation today announced that it amended its agreement with Barclays as Program Administrator to extend its existing $500 million accounts receivable securitization facility. The facility now matures in September 2024. In connection with the extension of the facility, CITGO also amended the financial covenant under the facility. Proceeds made available to CITGO from the facility would be used for general corporate purposes.
CITGO Petroleum Corporation is a recognized leader in the refining industry and operates under the well-known CITGO brand. CITGO owns and operates three refineries located in Lake Charles, La.; Lemont, Ill.; and Corpus Christi, Texas, and wholly and/or jointly owns 38 active terminals, six pipelines and three lubricants blending and packaging plants. With approximately 3,300 employees and a combined crude capacity of approximately 769,000 barrels-per-day (bpd), CITGO ranks as the fifth-largest and is one of the most complex independent refiners in the United States. CITGO transports and markets transportation fuels, lubricants, petrochemicals and other industrial products, and supplies a network of approximately 4,300 locally owned and independently operated branded retail outlets, all located east of the Rocky Mountains. CITGO Petroleum Corporation is owned by CITGO Holding, Inc.
SOURCE CITGO Corporation