Simpson Thacher represented Goldman Sachs Bank USA, as administrative agent and lender, in connection with EPIC Crude Services, LP’s $100 million incremental upsize of its existing Term Loan B, bringing the total Term Loan B to $1.1 billion, and in its new $75 million Term Loan C. Proceeds from both loans will fund additional capital expenditures associated with the EPIC Crude Oil Pipeline and its terminals and docks.
EPIC Crude Holdings, LP was formed in 2017 to build and operate the EPIC Crude Oil Pipeline, a 700-mile, crude oil pipeline which extends from Orla, Texas to the Port of Corpus Christi, Texas, servicing the Delaware, Midland and Eagle Ford Basins. The 30” mainline will have an initial capacity of 600,000 barrels of oil per day and is expected to be in full service on April 1, 2020.
The Simpson Thacher team included Erland Modesto, Jason Lawrence, Evan West and Margaret Selbe (Credit); and Andrew Purcell and Sarah Katz (Tax).