BPL Acquisition in-market with $165 million term loan B

By Sara Rosenberg

New York, Dec. 6 - BPL Acquisition LLC is in-market with a new $165 million term loan B (Ba3) talked at Libor plus 275 basis points, according to a market source. Goldman Sachs is the sole lead bank on the deal.

The term loan was launched to existing lenders only, the source said.

Proceeds will be used to refinance existing term loan debt and to pay a special dividend.

BPL Acquisition is the company that was formed by Carlyle/Riverstone Global Energy and Power Fund II LP to purchase Glenmoor Ltd., the parent of general partner Buckeye Pipe Line Co., an Emmaus, Pa.-based independent pipeline common carrier of refined petroleum products.

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