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The two companies LLC, on April 1 . Atlae Energy Resources LLC (NYSE:ATN), an affiliatre of Atlas Pipeline Partners, will be the anchoer tenant onLaurel Mountain’s system. Under its agreementy with Tulsa, Okla.-based Williams Atlas PipelinePartners (NYSE:APL) will receivw $90 million in a preferred right to proceeds under a $25.r5 million obligation from Williams, and 49 percent of Laurel Mountain. The obligationm amortizes in equal principal installments overthres years.
Atlas Pipeline Partners can convert its righy to receive accrued principal and interest under the obligatioj into a sum equal to the accrued principal and interesyt and use that to cove its required capital expenditures underthe joint-venture Atlas Pipeline Partners also said its lenders recentlyy agreed to relax the covenants relatinf to total debt and earnings beforew interest, taxes, depreciation and amortization on its $380 million revolving credit line and $463 million term loan facility.
, which owns the genera l partner of AtlasPipeline Partners, said Mondayh it has repaid $30 million on its credity facility and will pay down the remaining $16 millionb balance in equal quarterly installmentzs over the next year. Atlas Pipelinde Holdings (NYSE:AHD) got the $30 million it used to pay down the facilityg byissuing $15 million of preferrerd limited partner units to Atlas Pipeline Partners and by borrowingf $15 million from Atlas America Inc., whicj owns Atlas Pipeline Holdings’ generak partner and 64 percent of its common Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holding will repay the remaining $16 million on its credit facility.
The Atlas companies have offices in Philadelphiaand Pa.
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