PITTSBURGH, March 8, 2018 /PRNewswire/ -- CNX Midstream Partners LP (NYSE: CNXM) ("CNX Midstream" or the "Company") today announced that it has entered into a new senior secured revolving credit facility (the "Credit Facility"), which replaces the Company's prior facility. The Credit Facility expands CNX Midstream's borrowing capacity by $350 million to $600 million, with an accordion feature allowing the Company to further expand its borrowing capacity to $850 million, and matures on March 8, 2023. Outstanding borrowings under the Credit Facility bear interest, at CNX Midstream's option, at either the base rate plus a margin ranging from 0.75% to 1.75% or LIBOR plus a margin ranging from 1.75% to 2.75%.
PNC Capital Markets LLC, JPMorgan Chase Bank, N.A., Credit Suisse Securities (USA) LLC and MUFG Union Bank, N.A. acted as the joint lead arrangers and joint book runners for the Credit Facility. PNC Bank, National Association will serve as administrative agent and collateral agent, and JPMorgan Chase Bank, N.A. will serve as syndication agent.
About CNX Midstream Partners
CNX Midstream Partners LP (NYSE: CNXM) is a master limited partnership that owns, operates, develops and acquires gathering and other midstream energy assets to service natural gas production in the Appalachian Basin in Pennsylvania and West Virginia. CNXM's assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities. More information is available on CNXM's website www.cnxmidstream.com.
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SOURCE CNX Midstream Partners LP