Wells Fargo, RBC Arrange MarkWest Energy Revolver Increase
MarkWest Energy Partners announced the completion of an amendment to its senior secured revolving credit facility, increasing total borrowing capacity to $1.3 billion, extending the maturity by 18 months to March 2019 and expanding the existing accordion option from $250 million to $500 million.
The bank syndicate is led by Wells Fargo Securities and RBC Capital Markets, who serve as joint lead arrangers and joint lead bookrunners.
“As MarkWest continues to execute our significant growth strategy in the Marcellus and Utica Shales, we are very excited to announce the increase of our liquidity position and strengthening of our financial flexibility by expanding our revolving credit facility,” stated Frank Semple, chairman, president and CEO. “We are proud to continue partnering with an exceptional group of lenders who have the resources and capital markets expertise that is essential to support our business.”
MarkWest Energy Partners is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering and transportation of crude oil.