Stonepeak Lonestar launches $800 million term B at Libor plus 425 bps

By Sara Rosenberg

New York, Sept. 26 – Stonepeak Lonestar launched on Thursday its $800 million term loan B (B1) with price talk of Libor plus 425 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.

Macquarie Capital (USA) Inc., Natixis and Credit Agricole are the leads on the deal.

Proceeds will be used for a recapitalization.

Stonepeak Lonestar is the holder of Stonepeak Infrastructure Partners’ interests in the Gulf Coast Express Pipeline, Grand Prix Pipeline and Targa Resources Corp.’s fractionation train 6 in Texas in a joint venture with Targa.

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