On January 3, 2018, Macquarie Infrastructure Corporation entered into a new senior secured revolving credit facility among the company, as borrower, MIC Ohana Corporation, as guarantor, J.P. Morgan Chase Bank, N.A., as administrative agent and the lenders party thereto. The senior secured revolving credit facility provides borrowings of up to $600.0 million, and replaces a revolving credit facility of $410 million that matured in 2019. The new senior secured revolving credit facility will mature four years after the closing date on January 3, 2022. Aggregate commitments under the senior secured revolving credit facility may be increased under an uncommitted incremental facility up to an additional $100 million (plus an additional $100 million subject to the facility then being unsecured or the company being in compliance with a leverage ratio). In addition, a portion of the senior secured revolving credit facility in an aggregate amount of up to $200.0 million is available for the issuance of stand-by letters of credit, of which $150.0 million is committed to be issued. The senior secured revolving credit facility is guaranteed by MIC Ohana and secured by a pledge of the company's directly held equity interests, including in MIC Ohana, and all intercompany debt owed to the company. The senior secured revolving credit facility provides that the security may fall away during any period when at least two investment grade ratings have been obtained by the company and are in effect and certain other conditions have been met. Interest on borrowings under the senior secured revolving credit facility will accrue at a rate per annum equal to either an Alternate Base Rate plus an applicable margin or an Adjusted LIBO Rate plus an applicable margin. The company may use borrowings under the senior secured revolving credit facility for general corporate and working capital purposes including, among others, financing acquisitions.