Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Traverse Midstream Partners LLC > News item |
Traverse Midstream to launch $150 million incremental loan on Friday
By Sara Rosenberg
New York, Sept. 6 – Traverse Midstream Partners LLC will hold a lender call on Friday to launch a fungible $150 million incremental first-lien term loan due 2024, according to a market source.
J.P. Morgan Securities LLC is the lead on the deal.
Price talk on the incremental term loan is Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.5, the source said.
The incremental loan has 101 soft call protection for six months.
Commitments are due on Sept. 14, the source added.
Proceeds will be used to support the Rover Pipeline.
Existing lenders are being offered a 25 bps amendment fee.
Traverse is an Edmond, Okla.-based midstream company that owns a 35% joint venture interest in Rover Pipeline and a 25% joint venture interest in Ohio River System.
© 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.