Atlas Pipeline and Williams launch Marcellus Shale venture - The Business Journal of Milwaukee:

boyanebyboqasavo.blogspot.com
The two companies LLC, on April 1 . Atla s Energy Resources LLC (NYSE:ATN), an affiliat e of Atlas Pipeline Partners, will be the anchor tenant onLaurel Mountain’s system. Under its agreementt with Tulsa, Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partners willreceive $90 million in cash, a preferredd right to proceeds under a $25.5 million obligation from Williams, and 49 percent of Laurel Mountain.
The obligationm amortizes in equal principal installments over three Atlas Pipeline Partners can convert its right to receive accruecd principal and interest under the obligation into a sum equakl to the accrued principal and interest and use that to coved its required capital expenditures underthe joint-venture agreement. Atlas Pipeliner Partners also said its lenderw recently agreed to relax the covenants relatingy to total debt and earningsbefore taxes, depreciation and amortization on its $380 milliojn revolving credit line and $463 million term loan Additionally, , which owns the generao partner of Atlas Pipelinee Partners, said Monday it has repaisd $30 million on its credit facilitgy and will pay down the remaining $16 million balanc e in equal quarterly installments over the next Atlas Pipeline Holdings got the $30 million it used to pay down the facilitt by issuing $15 million of preferrex limited partner units to Atlas Pipelined Partners and by borrowing $15 m illion from Atlaa America Inc.
, which owns Atlas Pipeline Holdings’ general partner and 64 percent of its common Atlas America (NASDAQ:ATLS) also guaranteed that Atlase Pipeline Holdings will repay the remaininy $16 million on its creditr facility. The Atlas companies have officed in Philadelphiaand Moon, Pa.