Enterprise Products Partners closed a new credit facility consisting of a $2 billion, 364-day revolving credit agreement that matures on September 11, 2019.
According to a related 8-K filing, CitiBank served as administrative agent.
The facility replaces EPO’s existing 364-day revolving credit agreement, which provided for an aggregate borrowing capacity of $1.5 billion with a maturity date of September 12, 2018. Under the terms of the 364-day credit agreement, EPO may borrow up to $2.0 billion, which may be increased by up to $200 million to $2.2 billion at EPO’s election, provided certain conditions are met, at a variable interest rate.
Enterprise Products Partners is one of the largest publicly traded partnerships and a North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.
