Business

Limetree Bay Terminals Completes $105 Million Funding Transaction, Says Its Business is Independent of Refinery

Limetree Bay Terminals announced late Tuesday that it has completed additional financing transactions in connection with the financing arrangement announced on August 2, 2021. The terminal said existing investors, including a group of its term loan lenders have upsized their capital investment by $55 million, bringing the total amount of capital provided under new financing arrangements since August 2021 to $105 million. “This enhancement to the financing arrangement first announced in August 2021 provides the company with the capital needed for success as we enhance our capabilities and invest in our world-class facilities here in St. Croix”, said Jeffrey Rinker, Limetree Bay Terminals CEO. “We are very encouraged by this strong vote of confidence from our investors in our workforce and our business plan.” Meanwhile, the company said that over the past six months it has repositioned its business to be independent of Limetree Bay Refining (which suspended operations) and continues ...