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Bracewell Represents Lead Lender in $2.6 Billion of Term and Revolving Credit Facilities to EnLink Midstream

HOUSTON – Bracewell LLP represented an international financial institution, as administrative agent, in an $850 million unsecured term loan for EnLink Midstream Partners, LP (ENLK) and an agreement to provide a $1.75 billion unsecured revolving credit facility for EnLink Midstream, LLC (ENLC). In October, publicly traded midstream service providers ENLC and ENLK announced their plan for ENLC to acquire all outstanding common units of ENLK not already owned by ENLC in a unit-for-unit exchange transaction to simplify their corporate structure. The term loan closed and funded on December 11, 2018. The revolving credit facility will become available upon the consummation of the simplification in the first quarter of 2019, subject to certain conditions precedent, and will refinance the companies’ two existing revolving credit facilities.

EnLink provides integrated midstream services across natural gas, crude oil, condensate and NGL commodities. EnLink operates in several top US basins and is strategically focused on the core growth areas of the Permian’s Midland and Delaware Basins, Oklahoma’s Midcontinent and Louisiana’s Gulf Coast.

Bracewell lawyers involved in this transaction included:

Partners: Kate H. Day, Michele J. Alexander and Scott C. Sanders

Senior Principal: Joshua C. Zive

Associates: Annemarie E. Dunleavy, Shannon I. Lindamood and Ryan Davis