CNX Midstream gets new $600 million five-year revolving facility

By Wendy Van Sickle

Columbus, Ohio, March 8 – CNX Midstream Partners LP closed on a new $600 million five-year senior secured revolving credit facility, according to a news release.

The initial facility size expands CNX Midstream’s borrowing availability by $350 million, and there is also a $250 million accordion feature, according to the release.

Borrowings bear interest at Libor plus a margin ranging from 175 basis points to 275 bps.

PNC Capital Markets LLC, JPMorgan Chase Bank, NA, Credit Suisse Securities (USA) LLC and MUFG Union Bank, NA acted as the joint lead arrangers and bookrunners, with PNC the administrative agent and JPMorgan the syndication agent.

The revolver matures on March 8, 2023.

Pittsburgh-based CNX is a master limited partnership that owns, operates, develops and acquires gathering and other midstream energy assets to service natural gas production in the Appalachian Basin in Pennsylvania and West Virginia.

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