FR BR Holdings launches $500 million term B at Libor plus 575-600 bps

By Sara Rosenberg

New York, Nov. 27 – FR BR Holdings launched on Tuesday its $500 million five-year senior secured term loan B with price talk of Libor plus 575 basis points to 600 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year and amortization of 1% per annum, the source said.

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

Commitments are due on Dec. 11, the source added.

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.

© 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.