DENVER, Sep 12, 2011 (BUSINESS WIRE) --
MarkWest Energy Partners, L.P. (NYSE:MWE) announced today the expansion
and extension of its senior secured revolving credit facility with a
syndicate of banks led by Wells Fargo Securities, LLC and RBC Capital
Markets as joint lead arrangers and joint lead bookrunners.
As amended, the credit facility provides up to $750 million of borrowing
capacity with improved pricing that will result in significant interest
expense savings. The maturity date of the credit facility was extended
to September 2016.
"Given the significant growth of our business, we continue to focus on
capital market activities to fund our capital expenditures while
consistently improving our credit metrics and maintaining a strong
liquidity position," stated Frank Semple, Chairman, President and Chief
Executive Officer. "We are very pleased to complete this amendment to
our revolving credit facility that provides us with additional financial
flexibility to continue pursuing our growth strategy while lowering our
MarkWest Energy Partners, L.P. is a master limited partnership
engaged in the gathering, transportation, and processing of natural gas;
the transportation, fractionation, marketing, and storage of natural gas
liquids; and the gathering and transportation of crude oil. MarkWest has
extensive natural gas gathering, processing, and transmission operations
in the southwest, Gulf Coast, and northeast regions of the United
States, including the Marcellus Shale, and is the largest natural gas
processor and fractionator in the Appalachian region.
This press release includes "forward-looking statements."All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements. Actual
results could vary significantly from those expressed or implied in such
statements and are subject to a number of risks and uncertainties.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we can give no assurance that
such expectations will prove to be correct. The forward-looking
statements involve risks and uncertainties that affect our operations,
financial performance, and other factors as discussed in our filings
with the Securities and Exchange Commission.Among the factors
that could cause results to differ materially are those risks discussed
in the periodic reports we file with the SEC, including our Annual
Report on Form 10-K for the year ended December 31, 2010, and our
Quarterly Report on Form 10-Q for the quarter ended June 30, 2011. You
are urged to carefully review and consider the cautionary statements and
other disclosures made in those filings, specifically those under the
heading "Risk Factors."We do not undertake any duty to update
any forward-looking statement except as required by law.
SOURCE: MarkWest Energy Partners, L.P.
MarkWest Energy Partners, L.P.
Frank Semple, 866-858-0482
Chairman, President & CEO
Nancy Buese, 866-858-0482
Senior VP and CFO
Dan Campbell, 866-858-0482
VP of Finance & Treasurer