Generation Bridge to launch $365 million of term loans on Thursday

By Sara Rosenberg

New York, Dec. 1 – Generation Bridge II LLC will hold a lender call at 10 a.m. ET on Thursday to launch $365 million of senior secured term loans, according to a market source.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA and MUFG are the lead arrangers on the deal.

The debt consists of a $325 million seven-year term loan B and a $40 million seven-year term loan C, the source said.

Included in the term loans is a minimum debt service coverage ratio covenant of 1.1x.

Commitments are due at 5 p.m. ET on Dec. 15, the source added.

Proceeds will be used to fund the acquisition of power generation facilities from PSEG.

Generation Bridge is an operator of power generation facilities.

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