NGL Announces $250M Term Loan Facility with Apollo to Refinance Acquisition Bridge Facility
Vinson & Elkins advised certain funds and accounts (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo”) in connection with a new $250 million term loan facility for NGL Energy Partners LP (“the Partnership” or “NGL”) to refinance its existing $250 million bridge term loan facility that was established in July 2019 with TD Securities (USA) LLC as lead arranger and bookrunner and The Toronto-Dominion Bank, New York Branch as initial lender to finance a portion of the acquisition of Mesquite Disposals Unlimited LLC (“Mesquite”).
The V&E team was led by partners Guy Gribov and senior associate Zach Rider with assistance from partners Jim Fox, James Longhofer and Brian Moss and associates Joe Higdon and Ariel Guerrero-Stewart. Also advising were partner Wendy Salinas and associate Liz Snyder; senior associate Megan Menniti and associate Jack Moxon; partner Steve Abramowitz, senior associate Katie Grissel and associate Kristie Duchesne; counsel Scot Dixon; and associate Devin Kerns.
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