High Sierra Energy $150 million term loan expected to launch soon

By Sara Rosenberg

New York, July 19 - High Sierra Energy LP is now anticipated to launch its $150 million senior secured term loan (B2) later this week or early next week, according to a market source.

Originally, the loan was scheduled to launch with a bank meeting on Monday, but timing was delayed since ratings from Standard & Poor's have not yet been received.

Credit Suisse is the lead bank on the deal.

Proceeds will be used to refinance existing debt, to finance the purchase of the remaining equity interests in Anticline Disposal LLC not currently owned by High Sierra and for general corporate purposes.

High Sierra is a Denver-based holding company that identifies, acquires, manages and integrates businesses and revenue generating assets in the natural resources industry.

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