•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    MMLP enters into amended, upsized $900M revolving credit facility

    Martin Midstream Partners LP

    Martin Midstream Partners LP (Nasdaq:MMLP) has entered into a newly amended $900 million revolving credit facility with commitments from 25 lenders. This new agreement replaces the previous credit facility of $637.5 million. The revolving credit facility is the Partnership's primary source of liquidity and matures March 28, 2018. As of June 30, the Partnership had $290 million outstanding on its revolving credit facility.

    Ruben Martin, president and CEO of Martin Midstream GP LLC, MMLP's general partner, said, "We are pleased to have closed on a larger credit facility opportunistically capitalizing on a strong market for bank capital. With our amended facility, we achieved several positive structural enhancements to our covenant package and were able to improve our pricing grid lowering our cost of capital."

    Most Popular

    Related Articles

    RAAM amends exchange offer and consent solicitation

    07/31/2015 RAAM Global Energy Co. has made certain amendments to its offer to exchange any and all of its outstanding 12.50% senior secured notes due 2015 held by eligible holders for newly issued 12.50% seni...

    Platte River completes follow-on investment in First River Energy

    07/31/2015 Platte River Equity has completed its follow-on investment in First River Energy LLC to facilitate the acquisition of Texas Gathering LLC and related assets. The transaction represents the fir...

    Pine Brook provides $100M investment to launch Cahill Services

    07/31/2015 Pine Brook, an investment firm focused on building businesses in the energy and financial services sectors, has provided a $100 million line of equity investment in Cahill Services LLC, which will ...

    FX Energy closes new senior credit facility

    07/30/2015

    FX Energy Inc. has finalized a new five-year, up-to-€90 million senior reserve based lending facility.

    ArcLight closes sixth fund with $5.6B in commitments

    07/30/2015

    ArcLight Capital Partners LLC, a private equity firm focused on North American energy infrastructure investments, has closed its latest fund, ArcLight Energy Partners Fund VI LP.

    Shale Support receives $85M from Deutsche Bank

    07/29/2015

    Shale Support LLC, a provider of frac-sands and logistical solutions to the oil and gas proppant market, has closed a senior debt facility in the amount of $85 million with Deutsche Bank.

    More Oil & Gas Financial Articles

    RAAM amends exchange offer and consent solicitation

    Fri, Jul 31, 2015

    RAAM Global Energy Co. has made certain amendments to its offer to exchange any and all of its outstanding 12.50% senior secured notes due 2015 held by eligible holders for newly issued 12.50% senior secured notes due 2019 to be issued by RAAM and shares of RAAM's common stock, $0.01 par value per share.

    Platte River completes follow-on investment in First River Energy

    Fri, Jul 31, 2015

    Platte River Equity has completed its follow-on investment in First River Energy LLC to facilitate the acquisition of Texas Gathering LLC and related assets. The transaction represents the first acquisition by First River since Platte River's initial investment in July 2014.

    Pine Brook provides $100M investment to launch Cahill Services

    Fri, Jul 31, 2015

    Pine Brook, an investment firm focused on building businesses in the energy and financial services sectors, has provided a $100 million line of equity investment in Cahill Services LLC, which will provide specialty rental services to oil and gas customers.

    FX Energy closes new senior credit facility

    Thu, Jul 30, 2015

    FX Energy Inc. has finalized a new five-year, up-to-€90 million senior reserve based lending facility.

    ArcLight closes sixth fund with $5.6B in commitments

    Thu, Jul 30, 2015

    ArcLight Capital Partners LLC, a private equity firm focused on North American energy infrastructure investments, has closed its latest fund, ArcLight Energy Partners Fund VI LP.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ