Freif talks $295 million seven-year term loans with 375 bps area spread at 99

By Paul A. Harris

Portland, Ore., March 5 – Freif NAP I Holdings III LLC set price talk for $295 million of seven-year term loans, a market source said on Thursday.

The deal, comprised of a $250 million term loan B and a $45 million term loan C, is talked with a Libor spread in the 375 basis points area with a 1% Libor floor at 99.

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

Amortization is 1% per annum.

Commitments are due March 19.

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

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

Freif is an owner of power generation assets.

© 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.