Martin Midstream amends loan, increasing revolver size

By Sara Rosenberg

New York, Jan. 2 - Martin Midstream Partners LP amended its credit facility, increasing the revolver to $195 million from $120 million through the accordion feature, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The additional revolver commitment is intended to provide the company with the capital necessary to execute its $100 million organic growth plan in 2008.

The amendment was completed on Dec. 28.

Royal Bank of Canada is the administrative agent on the deal.

Martin Midstream is a Kilgore, Texas-based limited partnership primarily focused on terminalling and storage services for petroleum products and by-products, natural gas services, marine transportation services for petroleum products and by-products, sulfur gathering, processing and distribution, and fertilizer manufacturing and distribution.

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