FR BR Holdings to launch $500 million term loan B on Tuesday

By Sara Rosenberg

New York, Nov. 21 – FR BR Holdings is scheduled to hold a bank meeting at 1 p.m. ET in New York on Tuesday to launch a $500 million senior secured term loan B, according to a market source.

Goldman Sachs Bank USA, Barclays and RBC Capital Markets are the leads on the deal.

Proceeds will be used to help fund First Reserve’s acquisition of a 50% interest in Blue Racer Midstream LLC from Dominion Energy, to pay associated fees and expenses and for general corporate purposes.

Closing is expected by year-end, subject to regulatory approvals.

Blue Racer is a Dallas-based midstream company formed in November 2012 by Caiman Energy II LLC and Dominion to own, operate, develop and acquire midstream assets in the Utica and Marcellus Shales.

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