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Carlyle eyes loans for power facilities buy, likely January business
By Sara Rosenberg
New York, Dec. 12 – Carlyle Group’s acquisition of three natural gas-fired generation facilities from Emera Inc. will be funded with $586 million of credit facilities that are expected to come to market sometime in January, according to a market source.
Jefferies LLC and SunTrust Robinson Humphrey Inc. provided the debt commitment.
The facilities consist of a $55 million revolver, a $445 million term loan B and an $86 million term loan C, the source said.
The power generation facilities, known as Bridgeport Energy, Tiverton Power and Rumford Power, are being bought for $590 million.
The facilities total 1,143 MW of generating capacity and sell power, capacity and ancillary services into the ISO-New England market.
Closing is expected in the first quarter of 2019, subject to regulatory approvals.
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