Tailwater Capital-backed energy company Producers Midstream inks $200m credit facility

• The credit facility will help provide additional resources to further support the company’s operations
• Producers Midstream is a provider of midstream solutions to producers across the U.S.
• Kirkland & Ellis LLP served as legal advisor to Producers Midstream and Tailwater Capital

Producers Midstream, a portfolio company of Tailwater Capital, has secured a new $200 million credit facility. Texas Capital Bancshares Inc, Bank of Oklahoma and Cadence Bank provided the financing to Producers Midstream.

The credit facility will be used to allow Producers Midstream to borrow up to an additional $200 million assuming certain conditions are met. Also, the financing will provide additional resources to further support the company’s operations and ability to capitalize on the growing opportunity set within the Eastern Shelf of the Permian Basin as production continues to increase with best-in-class well results.

On the financing, Stephen Lipscomb, a partner at Tailwater Capital, said in a statement: “This financing further positions Producers Midstream to capitalize on significant long-term opportunities in an increasingly attractive area. Our customers continue to deliver outstanding well results, and we will continue providing them with reliable, responsive and innovative service offerings.”

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

Producers Midstream is a provider of midstream solutions to producers across the U.S.