NET Midstream Wins $665M In Funding For Texas Gas Pipeline

Law360, Washington (December 9, 2013, 5:10 PM EST) -- Private equity-backed NET Midstream on Monday announced that it had secured $665 million in funding for its planned 124-mile NET Mexico natural gas pipeline in South Texas, closing a financing round led by Japanese bank Mitsubishi UFJ Financial Group Inc.

According to the announcement, the deal — arranged through NET Midstream unit NET Mexico Pipeline Partners LLC — was oversubscribed by a factor of two, with 100 percent of invited lenders choosing to participate in the funding round.

Drew Tingleaf, chief financial officer of NET Midstream,...
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