Christopher Yonan has impressed market participants since moving to Jefferies to relaunch the firm’s power and utilities investment banking franchise in 2018. He was already a well-regarded figure, having established himself as a leading leveraged finance banker in the power sector at Barclays and then at Morgan Stanley, where he became a managing director.
Among the more memorable deals he led on at Jefferies in 2019 was Revere Power, a $586 million debt package for The Carlyle Group’s acquisition of a trio of combined-cycle gas-fired projects in New England from Emera Energy.
The deal was launched into a recovering term loan B market in January 2019 following a difficult December for leveraged finance. Other than a slight reduction in the size of a term loan C tranche, Jefferies was able to hold firm on initial terms.
“These are not easy deals to do,” says a private equity official. “Chris has shown more creativity than his peers, looking at assets that are off the run.”
Yonan’s strong relationships in the market have also helped Jefferies to pick up several mandates on out-of-the-ordinary transactions in 2020. “We’ve seen Jefferies winning an assignment that would previously have been picked up by a larger firm,” says another leveraged loan borrower.
See all of the 2019/2020 awards