Simpson Thacher represented the Administrative Agents and Joint Lead Arrangers in connection with EPIC Y-Grade, LP’s (“EPIC”) financing in an aggregate principal amount of $1.145 billion, which consisted of (1) a $1.075 billion senior secured term loan B and (2) a $70 million super-priority revolving credit facility.
EPIC Y-Grade operates 700-mile, 24” natural gas liquids pipeline and associated fractionation complex linking NGL reserves in the Permian and Eagle Ford to Gulf Coast refiners, petrochemical companies and export markets.
The Simpson Thacher team for the transaction included Erland Modesto, Andrew Lanius, Jonathan Pall, Kevin Carson, Oscar Campos, Casey Braden, Craig Wickham and Michael Hiestand (Banking and Credit); Timothy Gallagher (Real Estate); Michael Mann (Tax); and Michael Isby (Environmental).