ExGen Renewables to launch $750 million term loan B on Tuesday

By Sara Rosenberg

New York, Nov. 30 – ExGen Renewables IV LLC is scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a $750 million seven-year senior secured term loan B, according to a market source.

Jefferies LLC is the lead arranger on the deal.

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

In addition, the term loan is a green loan, and S&P has provided an opinion confirming alignment with the four pillars of the Green Loan Principles, the source continued.

Proceeds will be used to refinance existing debt, fund various reserves and distribute any remaining proceeds to Exelon Corp. to be used for general corporate purposes.

ExGen Renewables is an owner of renewable generation projects in the United States and is indirectly owned by Exelon.

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