CorEnergy Infrastructure Trust announced it has amended and upsized its existing $93 million revolving credit facility to provide borrowing commitments of $153 million, consisting of a $105 million revolver and a $45 million term loan at the CorEnergy parent entity level and $3 million at the subsidiary entity level.

CorEnergy said Regions Capital Markets and Bank of America Merrill Lynch served as joint lead arrangers and joint bookrunners on the credit facility, with Regions Bank acting as administrative agent and Bank of America acting as syndication agent.

Upon closing the Credit Facility, CorEnergy drew $45 million on the term loan to pay down the balance on its revolver that had been used in funding the recent Grand Isle Gathering System acquisition. The company now has approximately $100 million of available borrowing capacity on the revolver.

“This expanded credit line provides additional financial flexibility to position CorEnergy for future growth,” said David Schulte, chief executive officer of CorEnergy.

The credit facility has a maturity date of December 15, 2019. Borrowings under the facility will bear interest on the outstanding principal amount using a LIBOR pricing grid that is expected to equal a LIBOR rate plus an applicable margin of 2.75% – 3.75%, based on the company’s senior secured recourse leverage ratio. Total availability is subject to a borrowing base.