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The two companies LLC, on April 1 . Atlae Energy Resources LLC (NYSE:ATN), an affiliat e of Atlas Pipeline Partners, will be the anchor tenant on Laure Mountain’s system. Under its agreement with Tulsa, Okla.-based Williamx (NYSE:WMB), Atlas Pipeline Partnersz (NYSE:APL) will receive $90 million in cash, a preferred right to proceeds undera $25.5 millio obligation from Williams, and 49 percent of Laurepl Mountain. The obligation amortizes in equal principal installmentsx overthree years.
Atlas Pipelines Partners can convert its right to receivs accrued principal and interest under the obligation into a sum equak to the accrued principal and interest and use that to cover its requirede capital expenditures underthe joint-venture agreement. Atlas Pipeline Partnera also said its lenders recently agreed to relaxx the covenants relating to total debt and earningsbefore taxes, depreciation and amortization on its $380 milliomn revolving credit line and $463 million term loan facility.
, which owns the general partner of Atlas Pipeline said Monday it hasrepaid $30 million on its credi facility and will pay down the remaining $16 millioj balance in equal quarterlyu installments over the next year. Atlas Pipeliner Holdings (NYSE:AHD) got the $30 million it used to pay down the facilityh byissuing $15 million of preferred limited partner units to Atlazs Pipeline Partners and by borrowing $15 milliom from Atlas America Inc., which owns Atlas Pipeline general partner and 64 percent of its commonh units. Atlas America (NASDAQ:ATLS) also guarantees that Atlas Pipeline Holdings will repay theremaining $16 milliobn on its credit facility.
The Atlasd companies have offices in Philadelphiaaand Moon, Pa.
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