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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."

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