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A fund managed by Basalt Infrastructure Partners II GP has signed a definitive agreement to acquire the natural gas business from Third Coast Midstream.
/PRNewswire/ -- Third Coast Midstream, LLC ("Third Coast Midstream") today announced that on June 1, 2021 one of its subsidiaries completed the sale of Third...
Third Coast Midstream Completes Successful Debt Refinancing News provided by Share this article Share this article 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 infrastructure business is well-positioned for growth and continued creation of value for its investors."