Bangl readies launch of $350 million term loan for Monday

By Sara Rosenberg

New York, July 14 – Bangl LLC is scheduled to hold a lender call at 10 a.m. ET on Monday to launch a $350 million seven-year senior secured term loan B, according to a market source.

Barclays and Investec are the joint bookrunners on the deal. Stonepeak is a co-manager. Barclays is the administrative agent.

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

Proceeds will be used to support the construction of the Bangl expansion.

Bangl is a large-scale, operating, high barrier-to-entry pipeline system that transports NGL barrels from the Permian to Gulf Coast fractionation and purity markets.

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