Harvest Midstream driving by with $150 million tap of 7½% notes due 2028; initial talk 104.5

By Paul A. Harris

Portland, Ore., Jan. 25 – Harvest Midstream I LP plans to price a $150 million add-on to its 7½% senior notes due Sept. 1, 2028 (existing ratings B1/BB-/BB-) in a Monday drive-by, according to market sources.

Initial price talk is 104.5.

RBC Capital Markets Corp. is the lead.

The notes are non-callable before Sept. 1, 2023.

The Houston-based energy midstream services provider plans to use the proceeds to pay down its revolving credit facility.

The original $600 million issue priced in August.

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