Sole underwriter BNP Paribas has closed an offering of $321 million in 6.885% senior secured bonds funding construction of Energy Investors Funds’ 400 MW gas-fired greenfield Panoche Energy Center in Fresno County, Calif. The offering, which wrapped today after launching last Thursday, was downsized from its planned $330 million (PFR, 1/24) due to a higher coupon on the bonds than targeted.

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