What happened
FTAI Infrastructure Inc. (NASDAQ: FIP) said its subsidiary agreed on September 27, 2026, to buy crude oil logistics assets from a subsidiary of USD Group LLC. The deal includes the Port Arthur Terminal in Port Arthur, Texas, and a 50% interest in the Diluent Recovery Unit in Hardisty, Alberta.
The press release says the assets make an integrated origin-to-destination logistics platform for shipments into the Beaumont refinery hub. It says the terminal is built to handle about 50,000 barrels per day of crude oil arriving by rail, with output moving through an owned 12-mile, 24-inch diameter pipeline system.
The total purchase price is about $255 million in cash. The filing says the deal will be financed by assuming existing debt of the acquired business and with an acquisition debt facility secured by Jefferson and its subsidiaries.
Why it matters
FTAI Infrastructure expects the assets to generate about $50 million of annual EBITDA over the next twelve months. The press release says the assets have contracted cash flow under a long-term agreement with minimum volume commitments from an investment grade counterparty. That gives investors a contract-backed EBITDA target to compare with the price.
Barclays Bank PLC committed to provide a $72 million loan to fund the rest of the purchase price. The Assumed Debt had a current principal balance of about $190 million on September 27, 2026, so the loan commitment is about 38% of that debt balance. Jefferson also says it has a commitment for acquisition financing and may fund the deal with Additional Parity Bonds under Jefferson Bond Borrower LLC.
The filing still describes a pending transaction, not a closed one. The purchase price can change for cash, indebtedness, net working capital and transaction expenses. The EBITDA figure is an expectation, not a reported result.
What's next
The deal still needs required regulatory approvals. The company expects those approvals in the fourth quarter of 2026. If that happens, investors can compare the announced cash flow and financing terms with the closed transaction.
If the approvals do not arrive, or if other closing conditions are not met, the deal stays pending. In that case, the market will not have a completed acquisition to measure against the announced terms.
Explain the financial terms
A fiscal quarter is a three-month period in the company's reporting year.