Murphy USA Closes Acquisition of US Convenience Retailer QuickChek.
MANews-(C)2009-2021
US-based gasoline and convenience merchandise retailer Murphy USA Inc. (NYSE: MUSA) has completed its acquisition of Quick Chek Corp, the company said.
The USD 645m, all cash deal was announced last December.
As a result of this transaction, Murphy USA significantly enhances its network, adding 157 stores located in the Northeast and growing its total station count to more than 1,650.
To finance the transaction, Murphy USA secured the following USD 350m five-year revolving credit facility; USD 400m secured term loan maturing in 2028 and priced at LIBOR plus 1.75%; and USD 500m of 3.750% senior unsecured notes maturing in 2031.
These proceeds were used to finance the acquisition, repay and terminate in full the USD 200m outstanding under the prior term loan, pay transaction costs and add cash to the balance sheet.
Murphy USA (NYSE: MUSA) is a retailer of gasoline...
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