Bosque Power to launch $412.5 million credit facility on Thursday

By Sara Rosenberg

New York, Nov. 27 - Bosque Power is scheduled to hold a bank meeting on Thursday to launch its proposed $412.5 million credit facility, according to a market source.

Credit Suisse is the lead bank on the deal.

The facility consists of a $25 million revolver and a $387.5 million term loan, the source said.

Proceeds will be used to help fund the acquisition of the Bosque power generation facility by Arcapita Inc. and Fulcrum Power Services LP from LS Power Group.

Located in Laguna Park, Texas, the Bosque facility commenced operations as a natural gas fired power plant in 2000, and is currently undergoing conversion to a combined cycle facility with a capacity of over 800 megawatts.

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