Southcross Energy gets $350 million amended and restated facility

By Sara Rosenberg

New York, Nov. 13 - Southcross Energy Partners, LP closed on a $350 million amended and restated five-year senior secured credit facility, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Wells Fargo Securities, LLC acted as the lead arranger and bookrunner on the deal that was completed on Nov. 7.

Pricing can range from Libor plus 200 basis points to 325 bps, and the unused fee can range from 37.5 bps to 50 bps, based on leverage.

Proceeds will be used for working capital requirements and capital expenditures, the purchase of assets, the payment of distributions and repurchase of units and general partnership purposes.

The facility was done in connection with the company's initial public offering of 9 million common units.

Southcross Energy is a Dallas-based natural gas company.

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