Eureka Midstream closed on a $400 million senior secured revolving credit facility with ABN AMRO Capital USA as administrative agent and sole lead arranger.

The new facility amends and restated Eureka’s existing credit facility and provides the company with increased financial flexibility by increasing the aggregate credit facility commitments from $225 million to $400 million.

The facility also:

  • Extended the maturity to four-years from the credit facility closing date
  • Provided a $100 million accordion feature the company can increase the aggregate commitments to $500 million
  • Will be used for funding capital expenditures, financing permitted acquisitions, funding working capital and general corporate purposes

BBVA Compass, CIT Bank and U.S. Bank served as co-documentation agents. Citibank, Iberiabank and Regions Bank served as senior managing agents. Additional participating banks included BNP Paribas, Cadence Bank, Citizens Bank, East West Bank, BB&T, The Huntington National Bank and ZB DBA Amegy Bank.

Gabe Scott, Eureka CFO, commented, “Eureka’s amended and restated credit facility strengthens our company’s financial flexibility and commitment toward prudent growth. In particular, the improved credit facility further enables us to deliver long-term value for our shareholders, implement the strategies required to effectively drive throughput volumes through the Eureka system and maintain our position as one of the industry’s safest and most efficient midstream operators in the Marcellus and Utica shales.”

Eureka Midstream, based in Houston, is a strategic midstream company focused in the Appalachian Basin.