HOUSTON - El Paso Energy Partners LP said Monday that it had closed a $600 million revolving credit facility with its banking syndicate, led by J.P. Morgan Chase & Co.

The financing provides the oil and natural gas company with some of the capital it will need to acquire assets and develop projects in the near future, El Paso said.

The three-year credit, an amended version of its previous $500 million vehicle, is secured at a lower interest rate, improves El Paso's credit profile, and allows for more operating flexibility, the company said.

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