M6 Midstream to launch $600 million term loan B on Monday

By Sara Rosenberg

New York, Aug. 4 – M6 Midstream (M6 ETX Holdings II MidCo LLC) is scheduled to hold a lender call at 10:30 a.m. ET on Monday to launch a $600 million seven-year senior secured term loan B, according to a market source.

Barclays, Jefferies LLC and Blackstone Credit are the joint bookrunners on the deal, with Barclays the administrative agent.

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

Proceeds will be used with $745 million of sponsor and management equity to fund the acquisition of Midcoast East Texas system.

M6 Midstream is a Houston-based midstream company.

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