GIP Clinches $500M Loan For Ruby Pipeline

Law360, New York (March 27, 2013, 7:34 PM EDT) -- Global Infrastructure Partners has closed a $500 million syndicated loan on a 680-mile gas pipeline it owns, most of which will go toward a dividend for its limited partners, the private equity firm said Wednesday.

GIP, a joint venture between General Electric Co. and Credit Suisse AG that invests in energy and infrastructure assets, will use proceeds to pay a $490 million dividend to itself and its investors, and to cover transaction costs. Its 50 percent stake in the Ruby Pipeline, which it jointly owns with...
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