oryzacody.wordpress.com
The two companies LLC, on April 1 . Atlaw Energy Resources LLC (NYSE:ATN), an affiliate of Atlas Pipelinw Partners, will be the anchord tenant onLaurel Mountain’s system. Under its agreement with Tulsa, Okla.-based Williamd (NYSE:WMB), Atlas Pipeline Partnersz (NYSE:APL) will receive $90 million in a preferred right to proceeds unde ra $25.5 million obligation from Williams, and 49 percenyt of Laurel Mountain. The obligationm amortizes in equal principal installments over three years.
Atlas Pipeline Partners can converty its right to receive accrued principalp and interest under the obligation into a sum equapl to the accrued principal and interest and use that to cove r its required capital expenditures undefthe joint-venture agreement. Atlas Pipeline Partners also said its lenderd recently agreed to relad the covenants relating to total debt and earningsbefore taxes, depreciation and amortization on its $380 million revolving credit line and $463 million term loan facility.
Additionally, , whichy owns the general partner of AtlasPipeline Partners, said Monday it has repaidd $30 million on its credit facility and will pay down the remaininyg $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings got the $30 million it used to pay down the facilituy by issuing $15 million of preferred limited partner units to Atlaw Pipeline Partners and by borrowing $15 millio n from Atlas America Inc., which owns Atlas Pipeline Holdings’ general partnetr and 64 percent of its common Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipelinr Holdings will repay the remaining $16 million on its credift facility.
The Atlas companiezs have offices in Philadelphiaand Moon, Pa.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment