Crescent Midstream Successfully Secures $600 Million in Debt Capital Financing

Crescent Midstream's Successful Debt Capital Raise

Crescent Midstream Intermediate Holdings, LLC, a prominent player in the energy sector, recently announced that it has successfully raised $600 million through senior secured credit facilities. This significant financial maneuver took place on February 18, 2026, comprising a $500 million seven-year Term Loan B and a $100 million five-year Revolving Credit Facility. The financing was highly rated, receiving a B+ from Standard & Poor's and a B1 from Moody's, reflecting the stability and creditworthiness of the company. The proceeds from this financing initiative are earmarked for refinancing existing debt and will play a crucial role in sustaining the company's growth trajectory.

The success of this capital raise is underscored by remarks from the company's CEO, Jerry Ashcroft. He pointed out that the outcome demonstrates the robust business model that Crescent Midstream has cultivated over the past decade. With these new financial resources, the company not only extends its debt maturities but also fortifies its credit profile. This financial flexibility will facilitate access to additional funds necessary for various growth capital projects within both institutional and banking markets.

Crescent Midstream has a rich history, strategically positioned between energy producers and consumers, ensuring reliable crude oil services across the Gulf of America and Louisiana. Its extensive network of pipelines supports over 80 deepwater platforms, transportating approximately 500,000 barrels of crude oil daily. This network plays an integral role in linking shippers to vital trading points, enhancing the efficiency and reliability of crude oil transportation in the region.

As the company charts its future, Ashcroft expressed confidence in Crescent Midstream's ability to generate significant free cash flow. The firm is not just focused on growth; it also aims to provide substantial returns to its equity holders through dividends. The road ahead appears promising for Crescent Midstream, as it navigates an evolving energy landscape while executing a robust backlog of growth initiatives.

The joint lead arrangers for this financing deal were prominent financial institutions including Royal Bank of Canada, JPMorgan Chase Bank, N.A., Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., and The Bank of Nova Scotia. Royal Bank of Canada notably also served as the Administrative Agent. Legal counsel for Crescent Midstream was provided by Allen Overy Shearman Sterling US LLP, ensuring that all legal aspects of the transaction were well managed.

In conclusion, Crescent Midstream's latest capital raising effort marks a pivotal moment in its ongoing strategy to enhance operational capacity and market competitiveness. The successful refinancing is expected to strengthen its standing in the energy industry, powering future growth and providing value to both consumers and investors alike. For updates on Crescent Midstream's operations and future projects, interested parties can visit Crescent Midstream's website.