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GIP II Blue readies launch of $539 million term loan B for Friday
By Sara Rosenberg
New York, March 21 – GIP II Blue Holding LP (HESM Holdco) is set to hold a lender call at 10 a.m. ET on Friday to launch a $539,492,403 term loan B, according to a market source.
Morgan Stanley Senior Funding Inc. is the lead on the deal.
Proceeds will be used to reprice an existing term loan B from SOFR+CSA plus 450 basis points with a 1% floor. Current CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.
GIP II, owned by Global Infrastructure Partners, is the owner of general partner and equity unit ownership interests in Hess Midstream LP and its operating subsidiary, Hess Midstream Operations LP.
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