Freif NAP readies launch of $295 million in term loans for Thursday

By Sara Rosenberg

New York, March 3 – Freif NAP I Holdings III LLC is set to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch $295 million in seven-year term loans, according to a market source.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Macquarie Capital (USA) Inc. and Credit Suisse Securities (USA) LLC are the bookrunners on the deal.

The debt consists of a $250 million term loan B and a $45 million term loan C, the source said.

The term loans have 101 soft call protection for one year.

Amortization is 1% per annum.

Proceeds will be used to refinance existing debt and fund the acquisition of power facilities.

Freif is an owner of power generation assets.

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