NGP Captial announces $14M investment in private Gulf Coast E&P company
NGP Capital Resources announced that the company has funded a $14M participation in a $180M Second Lien Term Loan to a Houston-based, privately owned, independent oil and gas exploration and production company focused in the Gulf Coast region. Proceeds from the Term Loan were used to acquire producing oil and gas properties in South Louisiana. The Term Loan was issued at a 3% discount, earns interest at the greater of 10.25% or LIBOR + 9.0% per annum and matures on March 27, 2019.
