http://www.fuzzysplace.com/article/More-Rate-Cuts-To-Come-.html
The two companies LLC, on Apripl 1 . Atlas Energy Resources LLC an affiliate of AtlasPipeline Partners, will be the anchorf tenant on Laurel Mountain’z system. Under its agreement with Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partners (NYSE:APL) will receiv e $90 million in cash, a preferred righft to proceeds undera $25.5 million obligationb from Williams, and 49 percen t of Laurel Mountain.
The obligation amortizes in equal principal installments over three Atlas Pipeline Partners can convert its righ t to receive accrued principal and interestr under the obligation into a sum equal to the accruedc principal and interest and use that to covee its required capital expenditures underthe joint-venture Atlas Pipeline Partners also said its lenders recentlhy agreed to relax the covenants relating to totalk debt and earnings before interest, depreciation and amortization on its $380 millionb revolving credit line and $463 millionj term loan facility.
Additionally, , which owns the generalp partner of AtlasPipeline Partners, said Mondaty it has repaid $30 million on its credit facility and will pay down the remaining $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 milliob it used to pay down the facility by issuingv $15 million of preferred limited partnerr units to Atlas Pipeline Partners and by borrowingg $15 million from Atlas America Inc., which owns Atlasw Pipeline Holdings’ general partner and 64 percentt of its common units. Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipelinew Holdings will repay theremaining $16 million on its credit facility.
The Atlas companies have offices in Philadelphiazand Moon, Pa.
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