Genesis Energy LP - 2011-08-22
Description
The company has amended its secured revolving credit facility to increase the lending commitment from $525 million to $775 million, including an accordion feature whereby the total credit available can be increased up to $1 billion.
In addition, the sublimit tranche designed for the more efficient financing of crude oil and petroleum products inventory in the partnership's normal course of business was increased from $75 million to $125 million. The partnership added two banks to its existing syndicate of banks resulting in fourteen lenders participating in the facility.