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Alon USA (ALJ) Tenders 74% of Senior Notes in Recent Offering; Exploring Alternatives to Term Loan

April 3, 2012 1:05 PM EDT
Alon USA Energy, Inc. (NYSE: ALJ) reports that, as of the consent deadline on March 28, 2012, $159,983,000 in principal amount of the Senior Secured Notes due 2014 issued by its Alon Refining Krotz Springs subsidiary (representing 73.9% of the outstanding principal amount of the Notes) had been tendered with consents pursuant to Alon Refining Krotz Springs' previously announced tender offer and consent solicitation.

The Company also announced that it is exploring financing alternatives with respect to its previously announced plans to arrange a new secured term loan facility, and that certain of the potential financing alternatives for this new facility would not satisfy the financing condition for the tender offer. The Company's ability to establish a new term loan facility and borrow thereunder will be subject to the receipt of commitments from lenders to provide the facility, the negotiation and execution of definitive loan documents, the receipt of third-party consents, and other conditions.


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