Southcross Energy Partners LP
Description
Secured an amendment to its revolving credit agreement that reduces the total revolver commitment from $200 million and can be further reduced to $115 million by Dec. 31, 2018. The amendment also provides for a new $15 million commitment from certain of the parent’s shareholders in the form of equity or debt by Dec. 31, 2017. The parent of Southcross’ general partner made a $17 million investment in Southcross. It will pay down revolver borrowings and support general partnership purposes. About 11.5 million Southcross common units were issued in exchange for the investment.