Frontera lifts incremental term loan to $75 million, firms at par

By Sara Rosenberg

New York, Oct. 11 – Frontera Generation Holdings LLC upsized its incremental covenant-light term loan B due May 2, 2025 to $75 million from $65 million and finalized the issue price at par, the tight end of the 99.75 to par talk, according to a market source.

As before, the incremental loan is priced at Libor plus 425 basis points with a 1% Libor floor, and has 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc. is the bookrunner and lead arranger on the deal.

Proceeds will be used to fund cash to the Lonestar Generation LLC balance sheet and to pay transaction fees and expenses.

Along with the incremental loan, the company is amending its existing credit agreement.

Lenders were offered a 25 bps amendment fee.

Frontera is a gas turbine power generation facility located in Mission, Texas.

© 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.