EdgeStar AP14000HS
The two companies LLC, on April 1 . Atla s Energy Resources LLC (NYSE:ATN), an affiliate of Atlas Pipeline will be the anchor tenant onLaurel Mountain’as system. Under its agreement with Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partnerw (NYSE:APL) will receive $90 million in a preferred right to proceeds undera $25.5 million obligation from Williams, and 49 percent of Laurel The obligation amortizes in equal principal installments over three Atlas Pipeline Partners can convert its righty to receive accrued principal and interesr under the obligation into a sum equal to the accrued principalp and interest and use that to coverd its required capital expenditures undert the joint-venture agreement.
Atlas Pipeline Partnersx also said its lenders recently agreed to relax the covenante relating to total debt and earningsbefore taxes, depreciation and amortizatiom on its $380 million revolving credit line and $463 millionb term loan facility. Additionally, , which owns the general partnet of AtlasPipeline Partners, said Mondayy it has repaid $30 million on its credit facility and will pay down the remainin g $16 million balance in equao quarterly installments over the next year.
Atlae Pipeline Holdings (NYSE:AHD) got the $30 million it used to pay down the facilityh byissuing $15 million of preferred limited partner unitx to Atlas Pipeline Partners and by borrowing $15 million from Atlase America Inc., which owns Atlas Pipeline Holdings’ general partneer and 64 percent of its common units. Atla America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holdingw will repay theremaining $16 million on its crediyt facility. The Atlas companies have offices in Philadelphiaand Moon, Pa.
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