Daily News: February 5, 2015

Marlin Midstream Completes Azure Term Loan Amendment

Azure Midstream Energy completed the necessary amendment to facilitate the first of two financings necessary to complete the proposed transactions with Marlin Midstream Partners.

Azure entered into agreement with lenders of its $550 million senior secured term loan and senior secured revolving credit facility (amendment) that enables Azure to contribute its legacy gathering system to Marlin, as well as, the acquisition of 100% of Marlin’s general partner interest, 90% of Marlin’s outstanding incentive distribution rights, and an option to purchase up to 20% of Marlin’s sponsor, NuDevco Midstream Development partnership units, collectively the (proposed transactions). The definitive agreements relating to the amendment were executed and delivered by the administrative agent and the lenders party thereto on February 3, 2015 to be effective upon closing of the proposed transactions.

Eric T. Kalamaras, Azure’s CFO, said, “The combined amendment provides Azure a pathway to complete this highly strategic transaction with Marlin, and allows for a more customized financing approach to aid Azure in meeting its objectives for future growth. Mr. Kalamaras further stated, we are pleased that nearly all of our existing lenders have shown such strong support and confidence in our business platform and strategies as we move Azure forward with multiple vehicles to create value for our stakeholders.”

Azure is a midstream company with a focus on owning, operating, developing and acquiring midstream energy infrastructure in core producing areas in the United States.