Carlyle eyes loans for power facilities buy, likely January business

By Sara Rosenberg

New York, Dec. 12 – Carlyle Group’s acquisition of three natural gas-fired generation facilities from Emera Inc. will be funded with $586 million of credit facilities that are expected to come to market sometime in January, according to a market source.

Jefferies LLC and SunTrust Robinson Humphrey Inc. provided the debt commitment.

The facilities consist of a $55 million revolver, a $445 million term loan B and an $86 million term loan C, the source said.

The power generation facilities, known as Bridgeport Energy, Tiverton Power and Rumford Power, are being bought for $590 million.

The facilities total 1,143 MW of generating capacity and sell power, capacity and ancillary services into the ISO-New England market.

Closing is expected in the first quarter of 2019, subject to regulatory approvals.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.