Presidio secures $1 billion Goldman Sachs acquisition financing facility

Presidio Investment Holdings LLC announced it has mandated Goldman Sachs to arrange up to $1 billion in acquisition financing following completion of its business combination with EQV Ventures Acquisition Corp. (NYSE: FTW).

Goldman Sachs Bank USA and its affiliates will serve as sole lead arranger, structuring agent and syndication agent for the facility. The parties have reached commercial agreement on high-level terms, though closing remains subject to negotiation of definitive agreements, future acquisitions of producing properties, and customary closing conditions.

The financing is designed to support Presidio's acquisition of producing oil and gas assets before issuing long-term investment grade asset-backed securities, which may be used to repay the facility. Presidio operates mature oil and gas wells across the Mid-Continent region, focusing on optimizing existing production from low-decline assets.

The business combination between Presidio and EQV Ventures received effective registration from the Securities and Exchange Commission on January 30. EQV shareholders will vote on the proposed combination at an extraordinary meeting scheduled for February 27, with the combined entity expected to trade on the New York Stock Exchange under ticker "FTW" upon closing.

Entry into the facility requires consummation of the business combination and negotiation of definitive documentation. Future acquisitions and capital commitments under the facility will be subject to due diligence, approvals and additional documentation between Presidio and Goldman Sachs (NYSE: GS).

EQV Ventures Acquisition Corp. is a special purpose acquisition company incorporated in the Cayman Islands. Its sponsor is affiliated with EQV Group, which operates more than 3,500 wells across 10 states.

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