trending Market Intelligence /marketintelligence/en/news-insights/trending/9IjjO5odLfxXlJKnhpzT1g2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Magellan Midstream enters into $500M credit agreement with lenders

Blog

US utility commissioners: Who they are and how they impact regulation

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Energy Insights, April 2021

Blog

The Heightened Regulatory Environment: Is the Banking Sector Facing More Fines?


Magellan Midstream enters into $500M credit agreement with lenders

Magellan Midstream Partners LP entered into a 364-day credit agreement providing $500.0 million of commitments from lenders, with a maturity date of May 15, 2020.

The credit agreement also includes a term-out option that Magellan could exercise no later than 30 days before the maturity date. Magellan could opt to have all outstanding borrowings converted into a term loan payable 24 months after the maturity date, subject to a term-out fee, according to a May 22 SEC filing.

Wells Fargo Bank NA acted as administrative agent for the lenders.