Reliant Energy to launch $1.4 billion credit facility Monday

By Sara Rosenberg

New York, Nov. 10 - Reliant Energy Inc. is scheduled to hold a bank meeting on Monday morning to launch its proposed $1.4 billion senior secured credit facility, according to a market source.

The facility consists of a $700 million revolving credit facility, a $400 million institutional term loan and a $300 million prefunded synthetic letter-of-credit facility, the source said.

Deutsche Bank, Bank of America and JPMorgan are the lead banks on the deal, with Deutsche the left lead on the term loan and letter-of-credit facility and Bank of America the left lead on the revolver.

Proceeds will be used to refinance the company's $1.7 billion revolver, $531 million of term loan debt and $450 million receivables securitization facility.

Reliant Energy is a Houston-based provider of electricity and energy services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.