BOSTON FleetBoston Financial Corp. said it has arranged a $250 million addition to a $750 million loan for Tosco Corp., a refiner and marketer of petroleum products.
Fleet was the lead arranger, and Royal Bank of Canada was the syndication agent. PNC Financial Services Group was the documentation agent. Twenty-seven other banking companies participated in the loan, which was announced Tuesday.
Tosco of Old Greenwich, Conn., has annual revenues of $23 billion. The company said it will use the financing to buy Equilon Corp.s Wood River refinery in Illinois and BP Amocos Alliance refinery in Louisiana and to bolster working capital.
Fleet completed the original $750 million syndication in February.