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Blue Racer Midstream, LLC Announces Pricing of $1,000,000,000 Offering of Senior Notes
[May 14, 2024]

Blue Racer Midstream, LLC Announces Pricing of $1,000,000,000 Offering of Senior Notes


Blue Racer Midstream, LLC ("Blue Racer") and its wholly owned subsidiary Blue Racer Finance Corp. today announced the pricing of the previously announced offering (the "Notes Offering") of $500 million aggregate principal amount of their senior notes due 2029 (the "2029 senior notes") and $500 million aggregate principal amount of their senior notes due 2032 (the "2032 senior notes" and, collectively with the 2029 senior notes, the "senior notes"). The 2029 notes, which priced at par, will mature on July 15, 2029 and will pay an annual interest rate of 7.000%. The 2032 notes, which priced at par, will mature on July 15, 2032 and will pay an annual interest rate of 7.250%.

The Notes Offering is expected to close on May 28, 2024, subject to customary closing conditions. Blue Racer intends to use the net proceeds from the sale of the senior notes to repay existing indebtedness, including but not limited to the redemption of all $600 million of its 7.625% Senior Notes due 2025 (the "2025 Notes" and such redemption, the "Redemption") and repayment of borrowings under its revolving credit facility, to pay associated fees and expenes, and for general corporate purposes. The Redemption will be made solely pursuant to a conditional notice of redemption that was delivered pursuant to the indenture governing the 2025 Notes, and nothing contained in this release constitutes a notice of redemption of the 2025 Notes.



The senior notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy any of the senior notes, except as required by law.

Forward-Looking Statements


This press release may include "forward-looking statements." All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Blue Racer expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by Blue Racer based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Blue Racer undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the issuance of this press release.


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