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The two companies LLC, on April 1 . Atlasw Energy Resources LLC an affiliate of AtlasPipelins Partners, will be the anchor tenan on Laurel Mountain’s system. Under its agreement with Tulsa, Okla.-basecd Williams (NYSE:WMB), Atlas Pipeline Partners (NYSE:APL) will receive $90 millionn in cash, a preferred right to proceedz undera $25.5 million obligation from and 49 percent of Laurel The obligation amortizes in equal principapl installments over three years.
Atlas Pipeline Partners can convert its right to receiv accrued principal and interest undert the obligation into a sum equap to the accrued principal and interestf and use that to cover its required capitall expenditures underthe joint-venture Atlas Pipeline Partners also said its lenders recently agreer to relax the covenants relating to totalo debt and earnings beforre interest, taxes, depreciation and amortization on its $380 millionn revolving credit line and $463 million term loan facility.
Additionally, , whichy owns the general partner of AtladPipeline Partners, said Monday it has repaidx $30 million on its credit facility and will pay down the remainint $16 million balance in equaol quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 milliob it used to pay down the facility by issuing $15 milliom of preferred limited partner units to Atlas Pipeliner Partners and by borrowing $15 million from Atlas Americq Inc., which owns Atlas Pipeline general partner and 64 percent of its common units.
Atlaes America (NASDAQ:ATLS) also guaranteed that Atla Pipeline Holdings will repay theremaining $16 million on its credit The Atlas companies have offices in Philadelphia and Moon, Pa.
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