Global Infrastructure Partners (GIP) announced on March 27th that Ruby Western Pipeline Holdings, LLC and related entities that collectively and indirectly hold GIP's investment in Ruby Pipeline Holding Company, L.L.C. (Ruby), have closed on a 7-year, $500 million Senior Secured Term Loan B facility (TLB).

The TLB was priced at LIBOR + 250 basis points with a 1% LIBOR floor and a 0.5 point original issuance discount. The proceeds of the TLB will be used to fund a distribution of approximately $490 million to GIP's investors and to pay transaction expenses.

Source: GIP