EPIC Y-Grade Completes Issuance of New $1,075 Million Senior Secured Term Loan B

EPIC Y-Grade, LP (“EPIC” or “the Company”) today announced that it has completed the issuance of a new $1,075 million senior secured Term Loan B due 2029. The Company used the net proceeds from the Term Loan to repay its existing $989 million Term Loan B due 2027 and repay its existing $77 million facility on a standalone propane line. As part of the transaction, the Company also increased its current super-priority revolving credit facility to $70 million from $40 million and extended the facility’s maturity date to 2029. With the transaction, both Moody’s and S&P reaffirmed their ratings at B3 and B-, respectively, while also noting the positive impact of the refinancing.

“EPIC has continued to transform the business and this transaction affirms the market support for our team, our strategy, and our execution,” said Brian Freed, Chief Executive Officer of EPIC. “We have created a strategic natural gas liquids position in the Corpus Christi and Sweeny markets with extensive downstream interconnectivity. We’re pleased that companies are continuing to expand their y-grade positions in Corpus Christi with EPIC Midstream.”

About EPIC Y-Grade Holdings, LP

EPIC Y-Grade, LP (“EPIC Y-Grade”) was formed in 2017 to build and operate a 700-mile, 24” natural gas liquids pipeline and associated fractionation complex linking NGL reserves in the Permian and Eagle Ford to Gulf Coast refiners, petrochemical companies and export markets. EPIC Y-Grade’s operated fractionation complex is located at the terminus of the 24” pipeline in Robstown, Texas. EPIC Y-Grade has fractionation capacity totaling 240,000 barrels per day in Robstown and Sweeny, Texas. EPIC Y-Grade is backed by capital commitments from funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES) as well as additional equity ownership by Chevron Corporation and FS Investments. For more information, visit www.epicmid.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240408270190/en/

EPIC Midstream Holdings, LP Mike Garberding Chief Financial Officer [phone] [e-mail]