EIG Global Energy Partners Announces Syndicated Loan Offering
WASHINGTON, May 11, 2011 /PRNewswire/ -- EIG Global Energy Partners (EIG) announced today that it is pursuing plans to enter into a new $100 million secured term loan facility due in 2016. The Company has engaged Goldman Sachs as Lead Arranger and Sole Bookrunner.
Proceeds from the term loan will be used primarily to invest in funds managed by EIG and its affiliates and to continue to expand its global platform. With $9.6 billion currently under management, EIG invests on a global basis and anticipates opening an office in Hong Kong in the second half of 2011. EIG also recently had a final closing on Energy Fund XV, its $4.1 billion flagship energy investment fund. The term loan represents the initial capital raising effort for the Company and will facilitate the continued growth of its investment business.
About EIG
EIG Global Energy Partners is a leading institutional investor to the global energy sector. EIG specializes in private investments in energy, energy-related infrastructure and resources and was formerly the Energy & Infrastructure Group of Trust Company of the West. During its 29-year history, EIG has invested over $11 billion in the sector through more than 260 projects or companies in 33 countries on 6 continents. EIG's clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, DC, with offices in Houston, New York, London, and Sydney.
Information in this press release may contain "forward-looking statements." These statements involve risks and uncertainties that could cause results to differ materially, including, without limitation, the possibility that the Company may not be able to complete the financing on acceptable terms. Any forward-looking statements are as of the date hereof, and we have no duty to update them if our views later change.
For more information, visit www.eigpartners.com.
SOURCE EIG Global Energy Partners
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