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EnLink Midstream ( (ENLC) ) has provided an update.
EnLink Midstream, through its SPV, has terminated its Receivables Financing Agreement and related Sale and Contribution Agreement, originally set to end in August 2025. This move marks a shift in its financial strategy, as the company borrowed $350 million under a new Promissory Note with ONEOK to repay the outstanding AR Facility. The Promissory Note arrangement allows EnLink to access unsecured loans at ONEOK’s discretion, with a $270 million loan already taken to pay down its revolving credit facility. This strategic financial restructuring could impact EnLink’s liquidity management and operational flexibility.
More about EnLink Midstream
YTD Price Performance: 23.27%
Average Trading Volume: 2,337,400
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $6.59B
Learn more about ENLC stock on TipRanks’ Stock Analysis page.
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