|Date Closed:||April 20, 2018|
|Client Name:||Veresen Midstream Limited Partnership|
Veresen Midstream Limited Partnership closed a restatement of its credit facilities in the aggregate amount of $2,775,000,000 on April 20, 2018, restating a 2015 New York law governed credit agreement into an Alberta law governed loan arrangement providing for a $2,500,000,000 term loan commitment, a $200,000,000 revolving commitment and a $25,000,000 operating commitment. The loan arrangement is thought to be one of the largest non-investment grade bank financings in the history of the Canadian bank market.
Veresen Midstream Limited Partnership is a natural gas midstream business located in Western Canada and owned by Pembina Pipeline Corporation and Kohlberg Kravis Roberts & Co. LP.
Bennett Jones LLP represented Veresen Midstream Limited Partnership with a team including Karen Dawson, Noriko Shimura and Michael Ramsay.