MarkWest Line of Credit Extension – Can Now Borrow up to $1.3B
With dense financial talk about amendments, maturities and accordion options, MarkWest announced yesterday that they’ve bumped up the borrowing limit on their line of credit at the bank. They can now borrow up to $1.3 billion and not have to pay it back until 2019. And MarkWest is likely going to need every penny as they continue their rapid (and necessary) expansion in the Marcellus and Utica Shale.
MarkWest remains the region’s largest midstream company. Here’s their “we got an extension to our credit line” announcement from yesterday: