Andeavor Logistics strikes $500M loan agreement with parent Marathon Petroleum
Andeavor Logistics LP entered into a loan agreement with parent company Marathon Petroleum Corp. for up to $500 million.
Under the agreement, Marathon may make loans to Andeavor Logistics on a revolving basis at the partnership's request. The agreement's maturity date is Dec. 21, 2023, but Marathon may demand payment at any time before the maturity date.
Andeavor Logistics also made changes to its credit agreements to make borrowings, investments and acquisitions more flexible and to...