Inergy plans $225 million of unsecured debt to help fund Rangeland Energy acquisition

By Paul A. Harris

Portland, Ore., Nov. 5 - Inergy Midstream, LP has received commitments for $225 million of unsecured debt financing from Citigroup Global Markets Inc. and JPMorgan to help fund the acquisition of Rangeland Energy, LLC, according to a Monday press release.

Financing for the deal also includes $225 million of common units, which are to be privately placed.

The acquisition is expected to close in early December, subject to approval under the Hart-Scott-Rodino Act and other customary closing conditions.

Inergy Midstream, LP, based in Kansas City, Mo., is a master limited partnership primarily engaged in the development and operation of natural gas and NGL storage and transportation assets.

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