Lucid Energy Group

Description

Completed refinancing and expansion of its two senior revolving credit facilities. The additional financing will support growth strategies in the Midland and Delaware basins. Lucid is backed by more than $860 million in growth capital commitments from EnCap Flatrock Midstream. Wells Fargo was sole book-runner, administrative agent and joint lead arranger alongside Cadence Bank in a $235 million facility supporting Lucid’s Midland Basin operations. Wells Fargo was the sole lead arranger and sole book-runner with Cadence and BBVA Compass serving as co-syndication agents in a $350 million facility supporting Delaware Basin operations. Locke Lord LLP was Lucid’s legal counsel. Vinson & Elkins LLP represented Wells Fargo as the administrative agent for a syndicate of 13 banks.

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Estimated Price
$1,450.0MM
Financing Type
Report Date