American Midstream Partners LP (AMID) announced that its borrowing capacity under its credit facility has been increased to $500 million, with an option to further increase it to $700 million and to extend the maturity to September 2019.
“The additional financial flexibility will support our near- and long-term growth projects, including the current expansion of the Lavaca System in the Eagle Ford and the buildout of the Harvey terminal,” said Steve Bergstrom, AMID’s executive chairman, president and CEO. “The upsized revolving credit facility also provides additional liquidity to pursue third-party and drop-down acquisition opportunities, including the previously announced potential acquisition of the Gonzales County full-well-stream gathering system and a 50% interest in Republic Midstream [LLC], both in the prolific Eagle Ford Shale.”
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