US-based International-Matex Tank Terminals (IMTT) has growth on the agenda and with an amendment to its revolving credit facility expansion is a big step closer.
The revolving credit facility has funding to $1.1 billion (889 million) from $625 million. The increase in the facility will support development of growth projects at IMTT. The revised terms also extend the maturity date of the majority of the facility.
IMTT is the owner and/or operator of bulk liquid storage terminals with an aggregate capacity of more than 42 million barrels making it one of the largest independent terminal operators in the US.
SunTrust Bank is serving as administrative agent for the facility on behalf of a syndicate of 23 banks.
Macquarie Infrastructure Company holds 50% of IMTT.