Third Coast Infrastructure, LLC

Overview

Deal Type Debt Capital Markets
Size $1.025 Billion
Senior Secured Credit Facility
Client & Transactional Partners Third Coast Infrastructure, LLC
Our Role Joint Lead Arranger
Joint Bookrunner

Summary

On September 25, 2024, KeyBanc Capital Markets served as Joint Lead Arranger and Joint Bookrunner on a $1.025 billion Senior Secured Credit Facility (the Credit Facility) for Third Coast Infrastructure, LLC (the Company). The Credit Facility included a $100 million Revolving Credit Facility and an inaugural $925 million Term Loan B. The transaction refinanced the Company’s existing debt, including a $70 million bridge loan that closed in June 2024. The six-month, $70 million bridge facility was used to help finance the acquisition of additional interest in an existing asset, expanding the Company’s Gulf of Mexico operations.

Third Coast Infrastructure, based in Houston, is an offshore midstream company operating primarily in the Gulf Coast, and in the deep water of the Gulf of Mexico. Assets include natural gas transmission and gathering pipelines, NGL and crude oil pipelines, gas processing plants, and two deep water floating production systems. The Company’s assets service some of the largest producing Gulf of Mexico Deepwater fields.

B I Deal Disclosure

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and by its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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