Milbank LLP advised the financing sources on a $350 million revolving credit facility for Rockpoint Gas Storage Partners LP (“Rockpoint”) (TSE: RGSI) to replace its outstanding asset backed loan facility. Concurrent with the financing, Rockpoint also made its initial public offering (“IPO”) on the Toronto Stock Exchange.
Milbank also subsequently represented the financing sources in connection with a repricing of Rockpoint’s existing $1.25 billion term loan facility.
Based in Canada, Rockpoint, owned by funds managed by Brookfield Asset Management, is the largest independent pure play operator of natural gas storage facilities in North America.
The Milbank team was led by New York-based Global Leveraged Finance partners Marcus Dougherty and Benjamin Sayagh, along with associates George Miller, Ian Tomesch and Ria Melhotra.
