(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.
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