Terra-Gen Finance Co. LLC, a subsidiary of Terra-Gen Power LLC, plans to launch a $360 million senior secured corporate debt facility. The transaction is expected to close later this month.
The corporate debt facility will be composed of a $300 million, six-year senior secured term loan B and a $60 million, five-year senior secured working capital facility.
Proceeds of the term loan will be used to fully repay existing corporate-level debt, fund a cash distribution to Terra-Gen, partially fund the debt service reserve, and pay transaction fees and expenses.
Goldman Sachs Lending Partners LLC and Credit Suisse Securities (USA) LLC will serve as joint lead arrangers, joint book-runners and syndication agents for the transaction.