Vertex Energy Amends Existing Term Loan Agreement - Quick Facts

(RTTNews) - Vertex Energy, Inc. (VTNR) said it has has reached an agreement with existing group of lenders to modify certain terms and conditions of the term loan agreement aimed at improving the company's balance sheet. The amended term loan provides for an incremental $50.0 million in borrowings to the company, the full amount of which was borrowed upon closing, which brings the total outstanding balance on the term loan to $198.0 million.

The company noted that the lenders also have the option in their sole discretion to provide up to an additional $25.0 million of lending availability under the term loan.