(Source: Shutterstock/ Blue Racer Midstream)
Blue Racer Midstream LLC, together with its wholly owned subsidiary Blue Racer Finance Corp., announced the pricing of its previously announced offering of senior notes on May 14 in a press release.
The offering includes $500 million aggregate principal amount of senior notes due in 2029 and $500 million aggregate principal amount of senior notes due in 2032.
The 2029 notes, priced at par, will mature on July 15, 2029, and the 2032 notes, priced at par, will mature on July 15, 2032 and will pay an annual interest rate of 7.25%.
The notes offering will close on May 28, subject to customary closing conditions.
Net proceeds from the sale of the senior notes will be used to pay off debt, including the redemption of $600 million of its 7.625% senior notes due 2025 and borrowings under its revolving credit facility.
Recommended Reading
US Republican Attorneys General Sue to Stop EPA's Carbon Rule
2024-05-09 - The rule, finalized by President Joe Biden's administration last month as part of an effort to combat climate change, was challenged in three lawsuits filed in the U.S. Court of Appeals for the District of Columbia Circuit.
US EPA Expected to Drop Hydrogen from Power Plant Rule, Sources Say
2024-04-22 - The move reflects skepticism within the U.S. government that the technology will develop quickly enough to become a significant tool to decarbonize the electricity industry.
National Petroleum Council: A Realistic Path to Scaling US Hydrogen
2024-05-15 - A report by the National Petroleum Council, the culmination of about 18 months of work, offered 23 recommendations to help the hydrogen industry grow through 2050.
Canada's Oil Sands CEOs Push Back Against Proposed Oil, Gas Emissions Cap
2024-06-07 - The oil and gas sector is Canada's highest-polluting industry, accounting for more than a quarter of all emissions.
Exclusive: ‘Reality Has Hit,’ NatGas Not Just a Bridge Fuel, Landrieu Says
2024-04-11 - The Biden administration's LNG pause is "disappointing" and natural gas is a "solution to energy woes," co-chairs for Natural Allies for a Clean Energy Future Senator Mary Landrieu and Congressman Kendrick Meek told Hart Energy's Jordan Blum at CERAWeek by S&P Global.