InfrastruX $555 million credit facility to launch Tuesday

By Sara Rosenberg

New York, Oct. 16 - InfrastruX Group Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $555 million credit facility, according to a market source.

Credit Suisse and UBS are joint lead arrangers on the deal, with Credit Suisse the left lead.

The facility consists of a $100 million revolver, a $330 million term loan, a $50 million delayed-draw term loan and a $75 million revolver at InfrastruX Energy Services, the source said.

InfrastruX Energy Services is a joint venture that is being created by TXU Corp. and InfrastruX Group. TXU is contributing its electric transmission and distribution company, TXU Electric Delivery, to the venture and InfrastruX is contributing its legacy business assets.

InfrastruX Energy Services expects to be fully operational by the end of the year, subject to customary conditions, including the restructuring of existing debt held by InfrastruX Group.

InfrastruX Group is a Bellevue, Wash.-based provider of end-to-end infrastructure construction services, primarily for the electric and natural gas utility end-markets.

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