Daily News: May 9, 2012

RBS, Others Amend Summit Midstream $265 Million Credit Facility


Summit Midstream Partners announced that its wholly owned subsidiary, Summit Midstream Holdings has closed on a $265 million increase to, and amendment and restatement of, its revolving credit facility. This transaction raises total borrowing capacity to $550 million and provides additional financial flexibility during the remaining four-year term of the facility.

The amended and restated revolving credit facility is supported by a syndicate of 17 banks led by RBS Securities and BofA Merrill Lynch as joint lead bookrunners.

“We sincerely appreciate the continued support of our existing lender syndicate and are excited about the support our new lenders have shown to Summit,” said Steve Newby, president and CEO.

Summit Midstream Partners is a growth-oriented midstream energy company focused on owning and operating midstream energy infrastructure that is strategically located in the core areas of unconventional resource basins in North America.

Previously on abfjournal.com:

RBS Securities Acts as Bookrunner in Summit Midstream’s $285MM Loan, Wednesday, June 01, 2011