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ING Capital Arranges $550MM Credit Facility for Lighthouse Infrastructure
February 16, 2021, 07:36 AM
Lighthouse Infrastructure, a wholly owned subsidiary of Third Coast Midstream, entered into a new five-year credit agreement consisting of a term loan facility in the initial aggregate principal amount of $490 million and a $60 million revolving credit facility ( Facility ). The proceeds of the Facility are being used to redeem the outstanding Third Coast 2021 notes, repay borrowings under Third Coast s prior credit facility, and for general Lighthouse corporate purposes.
ING Capital LLC acted as Sole Bookrunner and Coordinating Lead Arranger for the Facility with Crédit Agricole Corporate & Investment Bank serving as the Administrative Agent and Coordinating Lead Arranger and CIT Bank, N.A. as Collateral Agent. Natixis, New York Branch and Societe Generale also acted as
Third Coast Midstream Completes Successful Debt Refinancing
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HOUSTON, Feb. 12, 2021 /PRNewswire/ Lighthouse Infrastructure, LLC ( Lighthouse ), a wholly owned subsidiary of Third Coast Midstream, LLC ( Third Coast ), has entered into a new five-year credit agreement consisting of a term loan facility in the initial aggregate principal amount of $490 million and a $60 million revolving credit facility ( Facility ). The proceeds of the Facility are being used to redeem the outstanding Third Coast 2021 notes, repay borrowings under Third Coast s prior credit facility, and for general Lighthouse corporate purposes. Third Coast is extremely pleased to have completed its debt refinancing, said Matthew W. Rowland, President and Chief Executive Officer. The new Facility extends our debt maturities, significantly lowers our interest expense, and provides ample access to liquidity. Third Coast s Gulf of Mexico midstream infras