Summit Midstream Partners, LP announced that its wholly owned subsidiary, Summit Midstream Holdings, LLC, has executed an amendment and extension of its $1.25 billion revolving credit facility. The facility is supported by a syndicate of 20 institutions and led by Wells Fargo Bank. It provides SMLP with the liquidity and financial flexibility to execute its growth plans and achieve its financing objectives for the foreseeable future.

The maturity date of the revolving credit facility was extended by approximately 3.5 years, from November 2018 to May 2022. The facility includes a $250.0 million accordion, and has the same pricing and a similar covenant package to the previous facility. The total leverage ratio financial covenant, as defined in the credit agreement, was increased from 5.00 to 1.00 to 5.50 to 1.00 in exchange for including a new senior secured leverage ratio financial covenant of 3.75 to 1.00.

Steve Newby, President and Chief Executive Officer, commented, "We sincerely appreciate the continued support of our lenders and the confidence they have in our company. This credit facility provides SMLP with significant liquidity and flexibility for the continued development of our assets. The revolving credit facility amendment also extends our long-term debt maturity profile such that SMLP has no significant debt maturities until 2022."