MarkWest Energy Partners plans to repay some loans with units issue

By Susanna Moon

Chicago, Oct. 6 - MarkWest Energy Partners, LP plans to pay down its credit facility due Sept. 7, 2016 using proceeds from an issue of units, according to a 424B2 filing with the Securities and Exchange Commission.

As of Wednesday there was about $45.9 million, excluding $27.3 million of outstanding letters of credit, outstanding under the facility and the weighted average interest rate of the facility was 4.25%.

Proceeds from the drawdowns were used to fund capital expenditures and for working capital.

The company registered to sell 5 million common units representing limited partner interests in MarkWest Energy. The units (NYSE: MWE) closed at $45.93 per unit on Wednesday.

MarkWest is a Denver-based natural gas, liquids and crude oil company.

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