Chesapeake Midstream gets $460 million revolver

By Sara Rosenberg

New York, Oct. 16 - Chesapeake Midstream Partners LP closed on a new $460 million five-year secured revolving credit facility, according to a news release.

Wells Fargo and RBS Securities acted as the joint lead arrangers on the deal, with Wells Fargo the administrative agent, RBS the syndication agent and Bank of Montreal the documentation agent.

There is a $290 million accordion feature.

Proceeds will be used to partially fund capital expenditures associated with building additional natural gas gathering and other systems associated with an active drilling program by parent company Chesapeake Energy Corp. in various plays, including the Barnett, Haynesville, Fayetteville and Marcellus Shales.

Chesapeake Energy is an Oklahoma City-based producer of natural gas.

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