Atlas Pipeline Partners announced that the partnership has successfully amended its revolving credit facility, significantly increasing the partnership’s borrowing capacity, extending the term of the facility, and lowering borrowing costs.

The new five-year facility matures on August 28, 2019, has an initial borrowing capacity of $800 million, and contains an accordion feature of up to an additional $250 million, which, if exercised, will increase the partnership’s total available borrowing capacity to $1.05 billion.

Atlas said Wells Fargo acted as sole lead arranger and continues to serve as the administrative agent for the facility. The partnership is also welcoming four new financial institutions to the facility – Royal Bank of Canada, Barclays Bank, The Royal Bank of Scotland and PNC Bank. The addition of these participants brings the total number of banks in the facility to 22 institutions.

This facility represents an increase of $250 million in total potential borrowing capacity over the partnership’s previous revolving credit facility, which had approximately $100 million outstanding as of June 30, 2014.

Philadelphia, PA-based Atlas Pipeline Partners owns and operates 16 gas process plants, 18 gas treating facilities, as well as approximately 11,200 miles of active intrastate gas gathering pipeline.