Tailwater’s Producers Midstream gets new $200 million credit facility

By William Gullotti

Buffalo, N.Y., June 23 – Producers Midstream II, LLC, a portfolio company of Tailwater Capital, announced it has secured a new $200 million syndicated credit facility led by Texas Capital Bancshares, Inc., Bank of Oklahoma and Cadence Bank, according to a press release on Thursday.

The company is also permitted to borrow up to an additional $200 million, subject to certain conditions.

The new facility will provide additional resources to support the company’s operations and ability to capitalize on the growing opportunities that followed Midstream’s successful acquisition and integration of Midcoast Energy’s gas gathering and processing assets earlier this year.

Kirkland & Ellis LLP was legal advisor to Producers Midstream and Tailwater Capital.

Tailwater Capital is an energy and growth infrastructure private equity firm based in Dallas. Dallas-based Producers Midstream is a midstream company and provider of turnkey midstream solutions for domestic oil and gas producers.

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