Oryx readies launch of $840 million credit facilities for Monday

By Sara Rosenberg

New York, Feb. 9 – Oryx Southern Delaware Holdings LLC is scheduled to hold a bank at noon ET on Monday to launch $840 million of credit facilities, according to a market source.

Jefferies LLC and Citigroup Global Markets Inc. are the arrangers on the deal.

The facilities consist of a $40 million super priority revolver and an $800 million seven-year first-lien term loan, the source said.

The term loan has 101 soft call protection for six months.

Proceeds will be used to repay $90 million of outstanding bank debt and to fund a distribution to the company’s current owners.

Oryx is an oil gathering and transportation business in the Delaware Basin.

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