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American Midstream lifts revolver to $200 million to support growth
By Toni Weeks
San Diego, June 27 - American Midstream Partners, LP increased the borrowing capacity under its senior secured revolving credit facility due August 2016 to $200 million from $100 million, according to a press release.
Bank of America, NA served as administrative agent, collateral agent, letters of credit issuer and lender. Citibank, NA and Comerica Bank were co-syndication agents and lenders. Capital One, NA, Compass Bank and U.S. Bank NA were documentation agents and lenders. Additional lenders included Wells Fargo Bank, NA and Raymond James Bank, NA.
"We are pleased to announce the upsize of our revolving credit facility within a year of our initial public offering," president and chief executive officer Brian Bierbach said in the release. "Our financial performance and successful execution of growth opportunities has allowed us to increase our credit facility to provide additional financial flexibility as we continue to pursue our growth strategy."
According to the release, the terms and conditions of the revolver, including pricing, maturity and covenants, remain unchanged.
Denver-based American Midstream owns, operates, develops and acquires natural gas midstream energy assets.
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