Navitas Midstream wraps $40 million term loan B-2 at 95.5 OID

By Sara Rosenberg

New York, July 1 – Navitas Midstream Midland Basin LLC completed syndication of a $40 million senior secured term loan B-2 due Dec. 13, 2024 at pricing of Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 95.5, according to a market source.

Jefferies LLC is the left lead arranger on the deal.

Allocations went out on Monday, the source said.

Proceeds will be used for general corporate purposes and to fund capital expenditures.

Navitas is a The Woodlands, Tex.-based natural gas gathering and processing company.

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