MarkWest Energy reports strong liquidity, senior debt of $1.3 billion

By Lisa Kerner

Charlotte, N.C., June 6 – MarkWest Energy Partners, LP has more than $800 million of liquidity to support its capital investment program, according to presentation materials from its investor and analyst meeting held on Friday.

As of March 31, debt was 40% of its capital structure, interest coverage was 4.7 times and its leverage ratio was also 4.7 times.

MarkWest had $124 million of cash and total senior debt of about $3 billion with the next maturity in five years.

The senior notes had a weighted average rate of 4.35%, according to the presentation.

The Denver-based natural gas gathering and transmission company has a $1.3 billion dollar revolving credit facility that matures in 2019 to support its short-term funding needs.

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