SemGroup Credit Tops $2 billion

SemGroup L.P. announced the successful closing of transactions that boost the company’s credit facility to more than $2 billion.
“Our company expects additional growth opportunities in 2007 that support our strategy of providing midstream services for the energy industry in North America, Western Europe and other worldwide locations,” said Greg Wallace, SemGroup CFO. “Our new credit facility will enable us to pursue our objectives.”
Banc of America Securities LLC is bookrunner for the facilities. Lead lenders include Bank of America, N.A., BNP Paribas, Bank of Montreal, Bank of Oklahoma, N.A. and The Bank of Nova Scotia.
Since the company’s founding in 2000, SemGroup has completed more than 45 acquisitions, and its total assets exceed $4.2 billion. SemGroup has more than 34.1 million barrels of owned and/or leased storage and has multiple projects in progress to increase that number. In November 2006, SemGroup was ranked No. 5 on Forbes list of America’s Largest Private Companies.

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