Lotus Midstream wraps $75 million term B-1 at Libor plus 400 bps

By Sara Rosenberg

New York, Aug. 14 – Lotus Midstream (Centurion Pipeline Co. LLC) allocated on Friday a non-fungible $75 million incremental term loan B-1 due Sept. 30, 2025 that is priced at Libor plus 400 basis points with a 0% Libor floor and an original issue discount of 96.5, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Barclays is the agent on the deal.

Closing is expected this month.

Lotus is a Sugar Land, Tex.-based energy company.

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