Citgo Closes New A/R Securitization Facility

(Citgo, 18.Dec.2020) — Citgo Petroleum Corporation announced that it has entered into an agreement with Barclays as Program Administrator for a two-year $250mn accounts receivable securitization facility.

The facility will enable Citgo to raise incremental, low-cost funding and enhance its financial flexibility. Proceeds made available to Citgo from the facility are expected to be used for general corporate purposes.