NorthRiver Midstream to launch $845.8 million term loan on Tuesday

By Sara Rosenberg

New York, March 18 – NorthRiver Midstream is set to hold a lender call at 11 a.m. ET on Tuesday to launch an $845.75 million senior secured covenant-lite term loan B due August 2030, according to a market source.

BMO Capital Markets and RBC Capital Markets are the arrangers on the deal.

Price talk on the term loan is SOFR plus 250 basis points to 275 bps with a 0% floor and a par issue price, the source said.

Proceeds will be used to reprice an existing term loan.

Commitments are due at noon ET on Thursday, the source added.

Brookfield Infrastructure is the sponsor.

NorthRiver Midstream is a Canadian gas gathering and processing business.

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