Azure amends $550M term loan and credit facility

Azure Midstream Energy LLC has completed the necessary amendment to facilitate the first of two financings necessary to complete proposed transactions with Marlin Midstream Partners LP.

Azure entered into agreement with lenders of its $550 million senior secured term loan and senior secured revolving credit facility that enables Azure to contribute its Legacy gathering system to Marlin, as well as the acquisition of 100% of Marlin's general partner interest, 90% of Marlin's outstanding incentive distribution rights, and an option to purchase up to 20% of Marlin's sponsor, NuDevco Midstream Development LLC partnership units.

The definitive agreements relating to the amendment were executed and delivered by the administrative agent and the lenders party thereto on Feb. 3, to be effective upon closing of the proposed transactions.

JP Morgan Securities LLC acted as sole arranger, and Latham & Watkins LLP acted as sole financing counsel to Azure.

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