Business

Limetree Bay Terminals Receives $100 Million Investment; Funding Not Tied to Limetree Bay Refinery

ST. CROIX —  Limetree Bay Terminals announced Monday that it has entered into a financing agreement under which AMP Capital Investors S.A.R.L. and affiliates will provide the terminal operation with up to $100 million in new capital. Under the terms of the agreement, AMP Capital will provide Limetree Terminals’ indirect parent company, Limetree Bay Terminals Holdings II, LLC with a $50 million incremental tranche of term loans, which amount can be upsized by an additional $50 million at the election of AMP Capital, according to the release.  The proceeds of the term loans will be invested in the terminal operation. “This substantial capital infusion is a clear demonstration of the strategic importance of the Limetree Bay terminal and the vital role this large-scale logistics facility plays in the flow of materials for St. Croix and the region,” said Jeffrey Rinker, Limetree Bay CEO. “The transaction significantly enhances the Company’s liquidity position allowing us to build on our s...