HomeMagazine2021March 2021, Vol. 248, No. 3Double E Pipeline Project Attracts $175 Million in Commitments

March 2021, Vol. 248, No. 3

Projects

Double E Pipeline Project Attracts $175 Million in Commitments

Summit Permian Transmission received $175 million in commitments from three leading commercial banks to finance the development of its Double E Pipeline Project, the company said.  The lenders will provide senior secured credit facilities consisting of a $160 million delayed draw term loan and a $15 million working capital. The credit facilities mature seven years after the date of initial borrowing.    The company said it expects to close and fund on the credit facilities shortly and will post a $15 million letter of credit under its corporate revolving credit facility to support back-end equity contributions, if needed, upon first funding.   “This further advances the Double E pro

Log in to view this article.

Not Yet A Subscriber? Here are Your Options.

1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Pipeline & Gas Journal magazine.

2) Start your full access subscription to Pipeline & Gas Journal and gain UNLIMITED access to this article, the current issue, all past issues in the technical archive, access to all special reports, special focus supplements and more. Pricing start at $395/year.   

*Access will be granted the next business day.

 

Related Articles

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}