Altus Midstream amends, extends revolver, ups capacity to C$275 million

By Wendy Van Sickle

Columbus, Ohio, March 24 – Altus Midstream Co. said Altus Midstream LP amended its revolving bank credit facility and expanded the borrowing capacity to C$275 million from C$200 million, according to a news release.

The amendment extends the term by three years with an additional two-year extension option and includes other improvements including lowered bank margins and greater flexibility in borrowing terms.

Additionally, the new facility is unsecured, allowing the company to respond and adapt to the rapidly changing market environment with greater speed and efficiency.

Bank of Montreal is the lead arranger, administrative agent and bookrunner. Toronto-Dominion Bank is syndication agent. HSBC Bank of Canada and National Bank of Canada are co-lead arrangers and co-bookrunners.

Altus, formerly known as Kayne Anderson Acquisition Corp., is a Houston-based pure-play, Permian Basin midstream C-corporation.

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