MIC Announces Refinancing, Upsizing of Revolving Credit Facility
January 04 2018 - 7:18PM
Business Wire
- Capacity increased to $600 million from
$410 million
- Maturity extended to January 2022
Macquarie Infrastructure Corporation (NYSE:MIC) announced the
successful refinancing and upsizing of its holding company level
senior secured revolving credit facility to $600 million. The new
facility includes an uncommitted accordion option to increase
drawings to $800 million, subject to satisfaction of certain
conditions.
The new facility replaces a revolving credit facility of $410
million at the MIC holding company level. $145 million was drawn on
the new facility at closing. Drawings on the facility are available
for general corporate purposes.
The new credit facility bears interest at the London Interbank
Offered Rate (LIBOR) plus a fixed margin. The rate on the drawn
balance at closing was a weighted average of 3.3% per annum.
The refinancing extended of the maturity of the credit facility
by approximately two and half years to January 3, 2022. The Company
notes that this date is beyond the July 2019 maturity of a $350
million tranche of holding company level convertible notes.
About MIC
MIC owns and operates a diversified group of businesses
providing basic services to customers in the United States. Its
businesses consist of a bulk liquid terminals business,
International-Matex Tank Terminals, an airport services business,
Atlantic Aviation, entities comprising an energy services,
production and distribution segment, MIC Hawaii, and entities
comprising a Contracted Power segment. For additional information,
please visit the MIC website at www.macquarie.com/mic. MIC-G
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MICInvestor enquiriesJay A. Davis, 212-231-1825Investor
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