Moss Lake Partners LP Secures Convertible Security Placement and Preferred Equity Offering to Finance Midstream Logistics Projects

Moss Lake Partners LP secured $350 million on 2024-04-01 through a convertible security placement and preferred equity offering, a sophisticated financing structure for new NGL storage and transport infrastructure. This hybrid capital injection allows Moss Lake Partners LP to fund significant projects targeting the U.S. Gulf Coast, a critical hub for energy logistics. The combination of convertible securities and preferred equity appeals to institutional investors by offering both downside protection and potential upside participation in the growth of midstream assets. This structure enables Moss Lake Partners LP to access substantial capital for its U.S. expansion without immediate common equity dilution, aligning investor returns with project development timelines. The focus on NGL storage and transport infrastructure addresses growing demand within the oil_gas sector for robust logistics capabilities in the Gulf Coast region. Latham & Watkins, a global law firm generating approximately $5.3 billion in revenue in 2022, advised the institutional investors on this complex $350 million financing. The firm's involvement, leveraging its legal talent across 30 offices worldwide, highlights the intricate legal and financial structuring required for such hybrid capital deals. Latham & Watkins' track record as a leading advisor on complex M&A transactions positions them well to navigate the nuances of a convertible security placement and preferred equity offering. For Moss Lake Partners LP, securing this $350 million from institutional investors facilitates its expansion into new NGL infrastructure on the U.S. Gulf Coast, despite no specific company details being provided. This transaction demonstrates continued institutional investor confidence in the long-term value proposition of U.S. midstream oil_gas assets.