DENVER--(BUSINESS WIRE)--Jun. 29, 2012--
MarkWest Energy Partners, L.P. (NYSE:MWE) announced today the completion
of a $300 million increase to its senior secured revolving credit
facility, increasing total borrowing capacity to $1.2 billion. MarkWest
also extended the maturity of the revolving credit facility by one year
to September 2017. The revolving credit facility is supported by a
syndicate of 17 banks led by Wells Fargo Securities, LLC and RBC Capital
Markets as Joint Lead Arrangers and Joint Lead Bookrunners.
“We are pleased to announce the increase of our borrowing capacity and
the extension of the term of our credit facility,” stated Frank Semple,
Chairman, President and Chief Executive Officer. “We remain committed to
maintaining a strong balance sheet and this expansion significantly
increases our liquidity and financial flexibility, which are important
elements of our ongoing growth strategy.”
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 MarkWest believes that the expectations reflected in the
forward-looking statements are reasonable, MarkWest can give no
assurance that such expectations will prove to be correct. The
forward-looking statements involve risks and uncertainties that affect
its operations, financial performance, and other factors as discussed in
MarkWest’s 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 filed with the SEC, including
MarkWest’s Annual Report on Form 10-K for the year ended December 31,
2011, and its Quarterly Report on Form 10-Q for the quarter ended March
31, 2012. 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.” MarkWest does 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
Nancy Buese, 866-858-0482
Senior VP and
Josh Hallenbeck, 866-858-0482
VP of Finance &