Capital Markets | Credit Facility Change
Vaquero Midstream Gets Access To More Capital; $225 Million in Debt
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Vaquero Midstream focused on the Delaware Basin announced today that an upsize of its Bank Revolving Credit Facility has been completed to $225 million. In conjunction with the upsize, Vaquero has also extended the commitment to the facility for one year, to December 2021. The facility is available for general corporate purposes, including funding capital expenditures, working capital, distributions to equity holders, and operating expenses.
The bank group is led by Legacy Texas Bank. Other banks participating in the facility include ABN Amro Capital, Bank of Texas, Cadence Bank, Amegy Bank, Comerica Bank, East West Bank and Raymond James.
“The upsizing and extension of our credit facility is an additional example of our mission to form long lasting and mutually beneficial relationships with all our business partners including producers, customers and lending institutions. We are pleased to have the support of our bank group and appreciate the confidence they demonstrated in our business with the upsizing of our credit facility”, said Gary E. Conway, CEO of Vaquero. “This upsized facility gives us plenty of capital for the growth projects we expect to be executing in the foreseeable future.”
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