Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Crestwood Said to Increase Term Loan Financing to $400 Million

Crestwood Holdings LLC, a midstream energy company, increased the size of a term loan it’s seeking to $400 million from $365 million while lowering the cost of the debt, according to a person with knowledge of the transaction.

The term loan B now consists of a $385 million piece due in six years and $15 million portion maturing in 4.5 years, said the person, who asked not to be identified because the deal is private. Crestwood might use the additional proceeds for a distribution to the company’s equity holders or for general corporate purposes, according to the person.

The six-year loan will pay interest at 6 percentage points more than the London interbank offered rate with a 1 percent minimum on the lending benchmark, the person said. The company originally proposed 6.25 percentage points to 6.5 percentage points more than Libor, with a 1.25 percent floor.

The loan will be sold to investors at 99.5 cents on the dollar, compared with a discount of 99 cents previously, the person said.

The 4.5-year piece will pay 4.5 percentage points more than Libor, with a 1 percent floor, and will be sold at 99.5 cents on the dollar.

Investors must let Citigroup Inc., the bank arranging the loan, know today whether they will participate in the deal, according to the person.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.