SemEuro Limited announced today the successful closing of a credit
facility totaling US $575 million. The facility consists of a US $500
million working capital facility and a US $75 million revolving credit
facility. The facilities were arranged by BNP Paribas and provided by
a syndicate of 12 multi-national financial institutions. SemEuro, a
business segment of SemGroup, L.P., initiated operations during July
2006.
Mike Brochetti, SemGroup senior vice president - finance, said,
"These credit facilities provide SemGroup's European operations with a
capital structure to grow existing businesses and to fund the
company's expansion and acquisition strategy in Western Europe."
SemEuro's operations currently include SemLogistics Milford Haven
and SemEuro Supply Limited. The former - with offices in London and
operations in Wales - is the largest fuel storage facility in the
United Kingdom. SemEuro Supply is an energy marketing company focused
on physical delivery of refined products, including unleaded gasoline,
gasoline blending components and distillates. It operates from a
branch office in Geneva, Switzerland.
SemGroup, L.P., is a privately held midstream company providing
the energy industry means to move products from the wellhead to the
wholesale marketplace. The company has five main energy stream
business markets - crude oil, refined petroleum products, natural gas,
natural gas liquids and asphalt - and serves them through its various
subsidiaries in the United States, Canada, Mexico, the United Kingdom
and Switzerland. For additional information, visit www.semgrouplp.com.
