Mesquite Generation seeks amendment to revise excess cash flow sweep

By Sara Rosenberg

New York, Nov. 29 – Mesquite Generation Holdings is seeking an amendment to its term loan B and term loan C to change the 100% excess cash flow sweep to an annual payment from a quarterly payment and allow for an $85 million tax payment, according to a market source.

Jefferies LLC is leading the deal.

Consents are due at noon ET on Friday, the source added.

Lenders are being offered a 200 basis point amendment fee.

Also, in connection with this transaction, $50 million of the debt would be paid down.

Currently, there is about $275 million outstanding under the term loan B and about $37 million outstanding under the term loan C.

Mesquite Generation, previously known as Lonestar II Generation Holdings LLC, is an owner of power generation assets in Texas.

© 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.