ExGen Renewables to launch $733 million term loan B on Tuesday

By Sara Rosenberg

New York, June 7 – ExGen Renewables IV LLC is scheduled to hold a lender call at 10:30 a.m. ET on Tuesday to launch a roughly $733,122,000 senior secured green term loan B (Ba3/BB-) due December 2027, according to a market source.

Jefferies LLC is the lead arranger on the deal.

Price talk on the term loan is Libor plus 250 basis points with a 1% Libor floor and a par issue price, the source said.

The term loan has 101 soft call protection for six months, a debt service coverage ratio covenant and a debt service reserve account.

Proceeds will be used to reprice an existing term loan B down from Libor plus 275 bps with a 1% Libor floor.

Commitments/consents are due at noon ET on Friday, the source added.

ExGen Renewables is a Chicago-based owner of renewable generation projects in the United States indirectly owned by Exelon.

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