DCP Midstream LP

Announced the amendment and renewal of its revolving credit facility, which now includes sustainability-linked pricing metrics. The interest and fees paid on the credit facility are linked to two sustainability metrics, DCP’s progress toward reaching its target to reduce greenhouse-gas emissions, as published in its 2021 Sustainability Report, and outperforming midstream industry peers in safety performance. The $1.4 billion unsecured revolving credit facility has been extended five years and will mature in March 2027. Additionally, in anticipation of the cessation of the London Interbank Offered Rate (LIBOR), this is one of the energy industry’s first credit facilities linked to the Secured Overnight Financing Rate (SOFR). Mizuho Bank Ltd. and JPMorgan Chase Bank NA were joint lead arrangers, and Mizuho acted as DCP’s sustainability structuring agent.