Atlas Pipeline and Williams launch Marcellus Shale venture - Kansas City Business Journal:

http://limelightmktg.com/the-kill-off.htm
The two companies LLC, on April 1 . Atlaas Energy Resources LLC (NYSE:ATN), an affiliate of Atlas Pipelins Partners, will be the anchor tenant on Laurel Mountain’s system. Under its agreemenft with Tulsa, Okla.-based Williams (NYSE:WMB), Atla s Pipeline Partners (NYSE:APL) will receive $90 millionb in cash, a preferred right to proceeds undera $25.65 million obligation from Williams, and 49 percenyt of Laurel Mountain. The obligation amortizew in equal principal installments overthrewe years.
Atlas Pipeline Partners can convert its righrt to receive accrued principal and interestr under the obligation into a sum equap to the accrued principal and interest and use that to covere its required capital expenditures underthe joint-venturr agreement. Atlas Pipeline Partnersd also said its lender recently agreed to relax the covenants relating to totakl debt and earningsbefore interest, taxes, depreciatiob and amortization on its $380 million revolving creditf line and $463 million term loan Additionally, , which owns the general partner of Atlas Pipeline Partners, said Monday it has repaifd $30 million on its credit facility and will pay down the remainin g $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 million it used to pay down the facilityy by issuing $15 million of preferred limiter partner units to Atlasz Pipeline Partners and by borrowing $15 million from Atlas America which owns Atlas Pipeline Holdings’ genera partner and 64 percent of its commobn units.
Atlas America (NASDAQ:ATLS) also guaranteed that Atlasw Pipeline Holdings will repay theremaining $16 million on its creditf facility. The Atlas companies have offices in Philadelphiawand Moon, Pa.