BofA, Others Increase American Midstream Partners Revolver
American Midstream Partners announced an amendment of its senior secured revolving credit facility to increase the borrowing capacity from $100 million to $200 million with a syndicate of eight banks, led by Bank of America as administrative agent, collateral agent, L/C issuer and lender.
The other banks participating in the credit facility are Citibank and Comerica Bank, as co-syndication agents and lenders; Capital One, Compass Bank and U.S. Bank as documentation agents and lenders; and Wells Fargo Bank and Raymond James Bank as lenders.
The material terms and conditions of the senior secured revolving credit facility, including pricing, maturity and covenants, remain unchanged. The credit facility matures in August 2016.
“We are pleased to announce the upsize of our revolving credit facility within a year of our initial public offering,” stated Brian Bierbach, president and CEO. “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. We appreciate the commitment of the lender group to American Midstream and look forward to working with them as we continue to expand our company.”
Denver-based American Midstream Partners is a growth-oriented limited partnership formed to own, operate, develop and acquire a diversified portfolio of natural gas midstream energy assets.