E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/11/2018 in the Prospect News Bank Loan Daily.

EPIC to launch $150 million incremental term loan B on Monday

By Sara Rosenberg

New York, Oct. 11 – EPIC Midstream Holdings LP will hold a bank meeting at 1:30 p.m. ET on Monday to launch a fungible $150 million incremental first-lien term loan B, according to a market source.

UBS Investment Bank is the lead bank on the debt.

Proceeds will be used to help fund the acquisition of the Robstown NGL fractionation facility located near Corpus Christi, Texas, from Southcross Holdings Borrower LP.

Other funds for the transaction will come from additional contributed equity.

The Robstown fractionator has a current capacity of 64 thousand barrels per day of NGLs with an expansion underway to 68 MB/D of capacity.

Closing is expected in November, subject to customary conditions, including regulatory approval.

EPIC was formed in 2017 to build, own and operate midstream infrastructure in both the Permian and Eagle Ford basins.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.