Martin Midstream Partners L.P. (MMLP) announced that it has amended and extended its senior secured credit facility that was originally scheduled to mature on November 10, 2010. Under the terms of the amendment and extension reached with a syndicate of lenders, the Partnership upsized its borrowing capacity to $335.67 million and extended the maturity date to November 9, 2012. The amendment and extension was arranged by Wells Fargo Securities, LLC and RBC Capital Markets.
Also, the Partnership announced that its Waskom Gas Processing Company or "WGPC" joint venture has entered into an agreement to purchase the East Texas natural gas gathering and processing assets of the Crosstex Energy companies, Crosstex Energy, L.P. (XTEX) and Crosstex Energy, Inc. (XTXI) for $40 million. The transaction is expected to close in January 2010.
WGPC's general partners are CenterPoint Energy Gas Processing Company , an indirect, wholly-owned subsidiary of CenterPoint Energy Inc.(CNP), and Prism Gas Systems I, L.P., the operator of WGPC, and an indirect, wholly-owned subsidiary of MMLP.
For comments and feedback: editorial@rttnews.com