Canyon Midstream Secures $50 Million Credit Facility

Looks like Wells Fargo is doing small deals again.

HOUSTON, Sept. 4, 2014 /PRNewswire/ — Canyon Midstream Partners, LLC (“Canyon”) announced today that it has secured a four-year, $50 million credit facility, which can be expanded to $100 million. Proceeds from the credit facility will fund Canyon’s expansion plans in the Permian Basin, the Eaglebine play in East Texas and the Tuscaloosa Marine Shale.

Wells Fargo Securities, LLC was the sole lead arranger and sole bookrunner of the credit facility, which closed on August 29, 2014. Wells Fargo Bank, N.A. (“Wells Fargo”) is the Administrative Agent under the credit facility, and Royal Bank of Canada (“RBC”) acted as Syndication Agent. Vinson & Elkins LLP served as counsel for Wells Fargo. Canyon was represented by Porter Hedges.


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