BP Midstream gets $600 million five-year revolving credit facility

By Marisa Wong

Morgantown, W.Va., Nov. 1 – BP Midstream Partners LP entered into a $600 million five-year revolving credit facility with North America Funding Co. on Oct. 30, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings will bear interest at Libor plus 85 basis points.

Loan proceeds will be used for working capital purposes.

The master limited partnership was formed by London-based BP plc’s U.S. pipeline unit to transport crude oil and refined products. The MLP is based in Houston.

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