Genesis Energy announced an increase in total commitments under its senior secured credit facility to $1.7 billion (from $1.5 billion).

The facility includes an accordion feature allowing an increase in total commitments by an additional $300 million, subject to lender approval. In connection with this upsizing, the lenders unanimously agreed to a total leverage covenant of 5.5 times through the maturity date of July 28, 2019.

According to a related 8-K filing, Wells Fargo served as administrative agent for the lender group. Bank of America and Bank of Montreal served as co-syndication agents and U.S. Bank served as documentation agent.

Grant Sims, CEO of Genesis Energy, said, “We continue to be pleased with the performance of our diversified businesses and we are confident the market will continue to further differentiate among midstream energy companies with varying fundamentals and prospects. Our syndicate of lenders has been continuously supportive of us through the historic credit crisis and commodity cycles of recent years. In fact, existing and new lenders over-subscribed to our recent solicitation of a $150 million increase in commitments, which gave us the opportunity to comfortably upsize by $200 million. We believe these increased commitments will enhance our flexibility to take advantage of opportunities that may develop as a result of the current environment.”

Houston, TX-based Genesis Energy is a diversified midstream energy master limited partnership with operations that include onshore and offshore pipeline transportation, refinery services, marine transportation and supply and logistics. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.