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MarkWest Energy Increases Credit Line to $1.2 Billion

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(Corrects number of lenders in third paragraph of story published June 29.)

June 29 (Bloomberg) -- MarkWest Energy Partners LP, a natural-gas processor, increased the size of a credit line to $1.2 billion and extended its maturity by one year.

The company added $300 million to the loan, which now matures in September 2017, according to a statement distributed by Business Wire.

Wells Fargo & Co. and Royal Bank of Canada arranged the financing with 15 additional lenders signing on, the Denver-based company said.

“This expansion significantly increases our liquidity and financial flexibility, which are important elements of our ongoing growth strategy,” Frank Semple, chairman and chief executive officer said in the statement.

MarkWest obtained the original credit in February 2008, according to data compiled by Bloomberg.

To contact the reporter on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.

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