Latham & Watkins Represents Lenders in US$950 Million Refinancing Transaction for Brazos Midstream

Brazos Delaware II, LLC, the subsidiary of Brazos Midstream, a leading private natural gas and crude oil midstream company in the Permian Basin, has completed a US$950 million refinancing transaction, consisting of a new US$800 million senior term loan facility and US$150 million super priority revolving credit facility. The proceeds of the term loan facility were used to refinance Brazos Delaware II, LLC’s existing credit facilities. Latham & Watkins advised a syndicate of international investment banks led by Barclays Bank PLC on the new refinancing credit facilities.

New York finance partner Alfred Xue and counsel Preeta Paragash led the Latham team that represented the Barclays-led lender group in the refinancing, with associates Angelika Ishkhanyan, Sharon Yin, and Ryan Maloney. Advice was also provided on tax matters by New York partner Jocelyn Noll, with associates Lauren Bewley and Michael Syku.