BCP PHP

BCP PHP - Permian Highway Pipeline - TL

Borrower (s)
BCP PHP
Industry
Oil & gas/Gas - Midstream (Transportation)
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
United States

Deal Overview

$546 million senior secured holdco-level financing supporting Blackstone and I Squared’s proportional share of project costs for the Permian Highway Pipeline.The Permian Highway Pipeline (“PHP”) is a 42’’ pipeline project that will transport residue natural gas from...

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$546 million senior secured holdco-level financing supporting Blackstone and I Squared’s proportional share of project costs for the Permian Highway Pipeline.

The Permian Highway Pipeline (“PHP”) is a 42’’ pipeline project that will transport residue natural gas from Waha, TX (i.e., Permian Basin hub) to multiple end markets including Katy (Houston), Gulf Coast, and South Texas.

MUFG provided a 100% underwriting for the acquisition. The bank group (as yet undisclosed) included 10 other lenders and the deal was significantly over-subscribed.

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Deal Volume
$545.95m
Financial Close
18 October 2019
Sources
Submitted by participant(s)

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Projects

Permian Highway Pipeline

Greenfield
Gas - Midstream (Transportation)
North America
United States
$2bn

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