Hess Midstream to use new note proceeds for loan repayment

Chicago, Nov. 25 – Hess Midstream Partners LP plans to use the proceeds from a new offering of senior notes announced on Monday for loan repayment, according to a notice.

Proceeds from a new $500 million offering of 8.5-year senior notes will be used to repay borrowings under Hess Infrastructure Partners LP’s credit facilities.

Proceeds will also be used to partially fund the distribution of Hess Infrastructure’s sponsors and pay related fees and expenses.

Hess Midstream was formed to own, operate, develop and acquire midstream assets to provide services to Hess Corp. and third-party customers. Hess Midstream’s assets are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.

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