Caprock Midstream enters into $120 million senior term loan facility

By Tali Rackner

Minneapolis, April 25 – Caprock Midstream LLC entered into a $120 million senior secured term loan facility with AB Private Credit Investors LLC as administrative agent, according to a press release.

Proceeds will be used to fund the continued growth of Caprock's Delaware Basin gathering and processing assets.

AB Private Credit (AB-PCI) and Goldman Sachs Specialty Lending Group (Gsslg) acted as co-lead arrangers on the deal.

"This financing provides Caprock with the additional capital required to continue the development of our assets in the Delaware Basin in advance of our customers' needs," CEO Mike Forbau said in the release.

"We are pleased to work with the AB-PCI and Gsslg teams, who were able to use their industry knowledge to understand the nuances of our operations and move quickly to tailor a financing solution suitable to our needs," CFO Sanjay Bishnoi added in the release.

Caprock is a Houston-based provider of natural gas gathering, processing, oil gathering, water gathering and water disposal in the Delaware Basin.

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