ArcLight GCX to launch $630 million term loan B on Tuesday

By Sara Rosenberg

New York, April 11 – ArcLight GCX (AL GCX Holdings LLC) is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $630 million seven-year senior secured term loan B, according to a market source.

Barclays, Macquarie Capital (USA) Inc., Jefferies LLC, Morgan Stanley Senior Funding Inc. and RBC Capital Markets are the joint bookrunners on the deal. Barclays is the administrative agent.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to fund the acquisition of a 25% stake in Gulf Coast Express Pipeline LLC.

ArcLight is the sponsor.

ArcLight GCX is a new-build 450-mile Permian natural gas pipeline.

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