DENVER – Midstream energy company MarkWest Energy Partners LP (NYSE:MWE) has executed a new $700 million senior secured revolving credit facility with a syndicate of banks led by Wells Fargo Securities LLC and RBC Capital Markets as Joint Lead Arrangers and Joint Lead Bookrunners.

The new revolving credit facility, which matures in July 2015, amends and restates the Partnership’s existing $435.6 million revolving credit facility. 

"We are pleased to enter into this new revolving credit facility that provides us with additional financial flexibility to continue pursuing our growth strategy, lowers our borrowing costs, and maintains key financial covenants substantially unchanged from our previous credit facility," stated Frank Semple, chairman, president and CEO.

Other banks participating in the credit facility include BNP Paribas, Morgan Stanley Bank NA, and US Bank National Association as Documentation Agents; Bank of America NA, Barclays Bank PLC, Compass Bank, JPMorgan Chase Bank NA, SunTrust Bank, and UBS Loan Finance as Senior Managing Agents; and Capital One NA, Comerica Bank, Credit Suisse AG, Cayman Islands Branch, Natixis, and Sumitomo Mitsui Banking Corporation as Participants.

MarkWest has extensive natural gas gathering, processing, and transmission operations in the southwest, Gulf Coast, and northeast regions of the United States, including the Marcellus Shale, and is the largest natural gas processor in the Appalachian region.