| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for AL NGPL Holdings LLC > News item |
AL NGPL Holdings launches $90 million term loan at SOFR plus 375 bps
By Sara Rosenberg
New York, May 3 – AL NGPL Holdings LLC launched a fungible $90 million incremental first-lien term loan due April 2028 that is talked at SOFR+CSA plus 375 basis points with a 1% floor and an original issue discount of 99.03, according to a market source.
CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.
Jefferies LLC is the lead on the deal.
Proceeds will be used to fund a distribution.
In connection with this transaction, the company is seeking an amendment to its existing first-lien term loan to shift pricing to SOFR+CSA plus 375 bps with a 1% floor from Libor plus 375 bps with a 1% floor, and allow for the incremental term loan and distribution.
Lenders are being offered a 25 bps amendment fee.
Commitments and consents are due at noon ET on Friday, the source added.
AL NGPL, an ArcLight Capital Partners portfolio company, is a provider of natural gas transportation and storage services.
© 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.