October 20, 2015
Invenergy Clean Power Announces Closing of Term Loan Financing
CHICAGO (Oct. 21, 2015) – On Monday, Invenergy Clean Power LLC (“Invenergy”) successfully closed a $540 million term loan financing by its wholly-owned subsidiary, Invenergy Thermal Operating I LLC which owns 3,159 MW of natural gas fired generation plants in operation.
The financing was rated Ba3 by Moody’s and B+ by Standard and Poor’s. Proceeds from the transaction were used for refinancing debt associated with the operating project. Morgan Stanley acted as Sole Lead Arranger and Sole Bookrunner for the transaction. Latham & Watkins served as transaction counsel for the lenders and Crowell & Moring represented Invenergy.
“We are pleased to have completed this important financing milestone,” said Jim Murphy, President of Invenergy’s Operating Business Group. “We believe the favorable external ratings on this portfolio underscores the strong operating history and the diversity of our natural gas portfolio of projects.”
Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, and Europe. Invenergy is committed to continued innovation in clean power solutions. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, and Europe.
Invenergy and its affiliated companies have developed more than 9,100 MW of projects that are in operation, in construction, or under contract, including 76 wind, solar, and natural gas-fueled power generation projects and energy storage facilities. For more information, please visit www.invenergyllc.com.
Contact: Mary Ryan, Senior Manager, Public Relations 312-582-1424 or firstname.lastname@example.org