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,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.