FREIF North American to launch $210 million term loan on Tuesday

By Sara Rosenberg

New York, Feb. 9 - FREIF North American Power I is set to hold a bank meeting on Tuesday to launch a proposed $210 million seven-year term loan, according to a market source.

Deutsche Bank Securities Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Macquarie Capital are leading the deal.

Proceeds will be used to help fund the acquisition by First Reserve Corp. and CalPERS of a diversified portfolio of U.S. contracted natural gas fired power generation plants totaling 1,068 MW from Arclight Capital.

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