NET Midstream unit secures $665 million financing to build pipeline

By Lisa Kerner

Charlotte, N.C., Dec. 9 - NET Midstream affiliate NET Mexico Pipeline Partners, LLC closed a $665 million project financing with a syndicate of lenders led by the Mitsubishi UFJ Financial Group.

The financing was about two times oversubscribed, according to a NET Midstream news release.

Other joint lead arrangers included ING Capital, Credit Agricole, Natixis, Royal Bank of Canada, Nord/LB, BBVA, and Santander.

NET Mexico will use the financing to build a 120-mile natural gas pipeline system.

Houston-based NET Midstream is a wholly owned subsidiary of NET Holdings Management, LLC, a privately held natural gas midstream and marketing company.

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