Moxie Liberty to launch $585 million of term loans on Thursday

By Sara Rosenberg

New York, Dec. 2 - Moxie Liberty will hold a bank meeting on Thursday to launch $585 million of term loan debt, according to a market source.

Goldman Sachs Bank USA, Ares Capital and Union Bank of California are leading the deal.

The debt consists of a $200 million delayed-draw term loan and a $385 million term loan B, the source said.

Proceeds will be used to help fund the construction of the Patriot Generation Plant, an 829-megawatt natural gas fired power plant in Lycoming County, Pa.

Moxie Liberty is owned by Panda Power Funds.

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