“Brazos Midstream Completes Sale of Delaware Basin Subsidiaries”
Brazos Midstream Holdings, LLC (“Brazos” or the “Company”) and Old Ironsides Energy today announced the completion of its previously announced sale of the Company’s Delaware Basin subsidiaries to a subsidiary of North Haven Infrastructure Partners II (“NHIP II”) for $1.75 billion. NHIP II is an investment fund managed by Morgan Stanley Infrastructure (“MSI”). The transaction included committed debt financing of $950 million ($900 million of term loan and $50 million of revolving credit facility), underwritten and arranged by Jefferies Finance LLC and Royal Bank of Canada.
…Thompson & Knight LLP served as legal counsel to Brazos, Morgan Stanley was represented by Latham & Watkins LLP, and Old Ironsides Energy was represented by Weil, Gotshal & Manges LLP.