MIC has a 50% stake in IMTT, one of the largest bulk liquid storage terminalling businesses in the U.S. The Company received a distribution of $12.0 million from IMTT in December 2012. The distribution for the fourth quarter would ordinarily have been paid in early 2013 but was accelerated into 2012 in light of the legislative stalemate in Washington, D.C. late in the year. All of the distributions due MIC and its co-investor in IMTT through and including the fourth quarter of 2012 have been paid.The Company facilitated the successful closing of a refinancing of IMTT’s revolving credit facility on February 15, 2013. Under the terms of the refinancing, IMTT’s debt maturity was extended to February 2018 from June 2014 and the size of the facility was increased to $1.04 billion. At closing the drawn balance on the facility was $752.2 million.
Macquarie Infrastructure Company Reports 2012 Financial Results, Highlights Increase In Free Cash Flow
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