January 8, 2020
A portfolio affiliate of Boston-based ArcLight Capital Partners has a new $830 million refinancing deal with Korean lenders.
Midcoast Energy Holdings, the Houston-headquartered ArcLight affiliate, said it has agreements with a consortium of Korean lenders and institutional investors to help refinancing for a Midcoast subsidiary that holds a 35% interest in the Texas Express Pipeline.
As part of the deal, Midcoast remains owner and operator of that 35% interest.
Texas Express Pipeline is a 594-mile, 20-inch natural gas liquids pipeline from Skellytown, Texas and to Mt. Belvieu, east of Houston.