Macquarie Infrastructure refinances revolver, upsizes to $600 million

New York, Jan. 4 – Macquarie Infrastructure Corp. said that it refinanced its holding company senior secured revolving credit facility, increasing the size to $600 million and extending the maturity to Jan. 3, 2022.

Interest is Libor plus a fixed margin. The rate on the drawn balance of $145 million at closing is a weighted average of 3.3%.

The revolver has an uncommitted accordion that would allow the size to be increased to $800 million, subject to conditions.

Before the refinancing, the facility was $410 million in size. The maturity was extended by two and a half years through the transaction.

Macquarie said that the maturity is beyond the July 2019 maturity of $350 million of convertible notes.

Borrowings can be used for general corporate purposes.

Macquarie Infrastructure is a New York-based owner and operator of businesses providing basic services to customers in the United States, specifically a bulk liquid terminals business, International-Matex Tank Terminals; an airport services business, Atlantic Aviation; an energy services, production and distribution segment, MIC Hawaii; and a Contracted Power segment.

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