PHILADELPHIA, June 25 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE: SUN)
announced today that it has entered into a new five-year, $900 million
Revolving Credit agreement. The credit facility continues to support the
Company's commercial paper program and provide letters of credit. It replaces
Revolving Credit agreements totaling $785 million, $400 million of which was
to mature July 22, 2004 and $385 million maturing July 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006 )
"We appreciate the strong support from our relationship banks in
recognizing Sunoco's financial strength and capacity to prosecute our
strategic plans," said Thomas W. Hofmann, senior vice president and chief
financial officer.
JPMorgan Chase is the Administrative Agent and Bank of America, N.A. is
the Syndication Agent. The Co-Documentation Agents are The Bank of Tokyo-
Mitsubishi Trust Company, Barclays Bank PLC and Citibank, N.A.
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer
and marketer of petroleum and petrochemical products. With 890,000 barrels
per day of refining capacity, about 4,900 retail sites selling gasoline and
convenience items, over 4,500 miles of crude oil and refined product owned and
operated pipelines and 37 product terminals, Sunoco is one of the largest
independent refiner-marketers in the United States. Sunoco is a significant
manufacturer of petrochemicals with annual sales of approximately five billion
pounds, largely chemical intermediates used to make fibers, plastics, film and
resins. Utilizing a unique, patented technology, Sunoco also manufactures two
million tons annually of high-quality metallurgical-grade coke for use in the
steel industry. For additional information visit Sunoco's Web site at
http://www.Sunocoinc.com.
SOURCE Sunoco, Inc.
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Related links:
http://www.SunocoInc.com
Company News On-Call:
http://www.prnewswire.com/comp/829144.html
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NewsCom:
http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Jerry Davis (media), +1-215-977-6298 or Terry
Delaney (investors), +1-215-977-6106, both of Sunoco
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