Wells Fargo, RBC Co-Arrange Martin Midstream Revolver Upsize
Martin Midstream Partners announced it has entered into a new secured revolving credit facility with lender commitments of $600 million. The newly amended agreement upsizes the facility from $400 million and extends the tenor of the facility by over two years with a new maturity date of March 28, 2018.
The company said the newly amended credit facility was co-arranged by Wells Fargo Securities and RBC Capital Markets. In amending the facility, six new banks were added to the syndicate resulting in a group of twenty lenders participating in the facility.
Kilgore, TX-based Martin Midstream Partners’ primary business lines include: terminalling, storage, processing and packaging services for petroleum products and by-products; natural gas liquids storage, marketing and distribution services and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and marine transportation services for petroleum products and by-products.