NGL Energy plans new debt financing for Hillstone purchase

By Sara Rosenberg

New York, Sept. 26 – NGL Energy Partners LP has received a commitment for debt financing to help fund its acquisition of Hillstone Environmental Partners LLC from Golden Gate Capital for about $600 million, according to a news release.

Barclays and Jefferies provided the debt commitment.

Other funds for the transaction will come from preferred equity.

Closing is expected this year, subject to regulatory approval.

NGL is a Tulsa, Okla.-based vertically integrated energy company. Hillstone is a provider of water pipeline and disposal infrastructure solutions.

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