Mac's Market, CITGO to Fundraise for Vermont Children's Cancer Camp

RUTLAND, Vt. -- Mac's Market convenience stores across the state have challenged its communities to raise at least $10,000 for Camp Ta-Kum-Ta, a free summer camp for children with cancer, through its 15th Annual Mac's Charity Golf Classic, to be held June 30, at Rutland Country Club here.

"We're inviting all local golfers to participate in the tournament and support a wonderful children's charity," Bob Wetherby, vice president of Mac's Market, said in a statement. "Over the past 15 years, Mac's Charity Golf Classic has raised more than $150,000 for a variety of local charities through the generous support of our community. This year, we are challenging our friends and neighbors to raise more than $10,000 so that we can send more children to camp this summer."

Mac's Market is hoping to bring together more than 120 golfers, of which many local businesses and community members have pledged their support. The 2010 tournament will feature 18 holes of golf, competitions, and food and gifts provided by sponsors such as CITGO.

All money raised will stay in the local community to help Camp Ta-Kum-Ta and its efforts to provide a camp experience to children undergoing cancer treatment.

"Camp Ta-Kum-Ta operates solely on donations, so we rely on the generosity of local heroes like Mac's Markets. Without them, we would not be able to help children with cancer have summer adventures, forget about their illness and just be kids for a week," Dennis DePaul, president of the board of directors for Camp Ta-Kum-Ta, said in a statement. "Camp is a wonderful way for children with cancer to break away from the often painful treatments and regimes they face. We hope that many people will open their hearts and join this wonderful event to support children across the community."

In the past 15 years, Mac's Market, its sponsors and community members have raised more than $150,000 for a wide variety of charities, including local education, housing assistance, health efforts through the United Way and the Muscular Dystrophy Association.

In other CITGO news, CITGO Petroleum Corp. successfully completed refinancing of its $2.1 billion indebtedness, which strengthened the financial condition of the company by extending the maturity of its indebtedness and securing liquidity for its operations, the company stated.

"This achievement clearly underscores CITGO's strength and the confidence of the international financial markets in the managerial and operational capacity of our company, which is particularly significant in the context of the current global economic instability that has impacted all productive sectors, including the refining industry," Alejandro Granado, CITGO president, said in a statement.

The refinancing consists of a new 3-year, $750-million revolving credit facility; a 5-year, $350-million term loan; a 7-year, $700-million term loan; and a $300 million issue of 11.5 percent, 7-year notes.
The proceeds of the refinancing will be used to prepay previous debt and to fund investments in improvement projects for CITGO's refined products' quality, and to produce ultra-low sulfur diesel.

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