Global Infrastructure Partners has agreed to acquire a 50% stake in Hess's (NYSE: HES) Bakken midstream assets for nearly $2.7 billion. The two parties involved in the transaction will form a new joint venture, Hess Infrastructure Partners, valued at $5.35 billion. Upon closing of the transaction, expected in 3Q, the joint venture will incur $600 million of debt through a 5-year term loan A facility with proceeds distributed equally to both partners. In addition, the newly formed entity will have independent access to capital including a $400 million 5-year senior revolving credit facility, which is fully committed. The deal includes assets such as a natural gas processing plant, crude oil truck and pipeline terminal and various crude oil/natural gas gathering systems.