Deals this week: Crestview Partners, LongPoint Minerals, Prostar Capital

Crestview Partners III has committed to invest $150m in newly established company W Energy Partners to strengthen its business.

The funding will allow W Energy to develop exploration and production assets in the Bakken shale formation.

LongPoint Minerals has received $525m of equity financing through a $450m commitment from CPPIB Credit Investments, as well as $75m from third-party investors.

The funding will be used to acquire mineral and royalty interests in targeted oil and gas assets.

LongPoint engaged Jefferies and Andrews Kurth as financial and legal advisors for the transaction, respectively.

Prostar Capital has signed an agreement with Tyloo Oil and Gas International Holdings to buy a 40% stake in an oil terminal on Zhoushan Island in Zhejiang Province, China.

The deal has a net value of more than $100m and will allow Prostar to expand its storage terminal operations.

Tyloo will continue to hold a 60% interest stake in the terminal, which has a storage capacity of approximately three million cubic metre of crude oil and refined products.

Sabine Pass Liquefaction has announced prices for an increased public offering of senior secured notes.

Due 30 June 2026, the notes bear a coupon rate of 5.875%.

Increased from $1bn to $1.5bn, the offer is scheduled to close on 14 June 2016.

The amount raised from the issue will allow the company to partially repay its outstanding loans.

Rice Midstream Partners has announced the pricing of a public issue to raise $148m.

The issue will offer eight million units, priced at $18.5 each.

Underwriters have also provided a 30-day option to buy an additional 1.2m shares.

Rice Midstream has appointed Wells Fargo Securities as its sole book-running manager and Vinson & Elkins as the legal advisor for the issue, which is scheduled for completion on 13 June 2016.

The amount raised from the offering will enable the company to repay liabilities, as well as fund acquisitions and capital outlays.