Oryx plans $1.5 billion term loan B for buyout by Stonepeak

By Sara Rosenberg

New York, April 2 – Oryx intends to get a $1.5 billion term loan B to help fund its acquisition by Stonepeak Infrastructure Partners, according to a news release.

Barclays, Goldman Sachs Bank USA, RBC Capital Markets and Jefferies LLC are the leads on the debt.

In addition to helping fund the acquisition, the term loan B will be used to refinance the existing Oryx Southern Delaware Holdings LLC facility and consolidate Oryx Southern Delaware Holdings and Oryx Delaware Holdings LLC into a single borrower.

Under the agreement, Oryx is being bought from Quantum Energy Partners, Post Oak Energy Capital, Concho Resources, WPX Energy and other investors for about $3.6 billion.

Oryx is a Midland, Texas-based midstream crude operator in the Permian Basin.

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