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DCP Midstream enters restated $1.4B credit agreement

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DCP Midstream enters restated $1.4B credit agreement

DCP Midstream LP on Dec. 6 entered into the second amended and restated credit agreement with a syndicate of lenders, according to a Dec. 8 SEC filing.

The new credit agreement extends the prior agreement's maturity date to Dec. 6, 2022, from May 1, 2019, and increases total borrowing capacity to $1.4 billion. DCP Midstream may also increase the loan commitment by up to an additional $500 million, subject to lender approval. The credit agreement has a five-year term and may be extended for two one-year periods.

Loans under the credit agreement will be used for working capital and for other general partnership purposes, included acquisition.

Mizuho Bank Ltd. is acting as administrative agent.