Genesis Energy increases revolving credit facility to $775 million

By Toni Weeks

San Diego, Aug. 22 - Genesis Energy, LP said it has amended its secured revolving credit facility to increase the lending commitment to $775 million from $525 million, according to a press release.

There is a $225 million accordion feature, which will allow the company to borrow 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 to $125 million from $75 million.

Genesis added two banks to its existing syndicate of banks, bringing the number of lenders participating in the facility up to 14.

Genesis Energy is a Houston-based diversified midstream energy master limited partnership.

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