Associated Asphalt Secures $100M Revolving Credit Facility

Associated Asphalt Partners, which is owned by Goldman Sachs Capital Partners, has received a five-year $100 million senior secured ABL revolving credit facility from KeyBanc Capital Markets. Along with $185 million in senior secured notes, the proceeds from the transaction were used to refinance the company's existing revolver and term loan, which KeyBank underwrote when GS Capital Partners bought the company in March 2012. Associated Asphalt supplies liquid asphalts and emulsions to paving contractors in the Southeastern United States.

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