GIP II Blue readies launch of $750 million term loan B for Monday

By Sara Rosenberg

New York, Sept. 10 – GIP II Blue Holding LP (HESM Holdco) is set to hold a lender call at 2 p.m. ET on Monday to launch a $750 million senior secured term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.

Proceeds will be used to pay a special cash distribution to the holders of the borrower’s equity.

GIP directly and indirectly owns about 45% of Hess Midstream Operations LP (HESM Opco), a midstream infrastructure company. Hess Infrastructure Partners owns about 45% of HESM and public shareholders own the remaining roughly 10%.

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