Borrower Strategies

Cox's LatAm subsidiary goes public

Jul 09, 2020 - Carmen Arroyo

Cox Energy America, a subsidiary of Spanish renewable energy developer Cox Energy, has debuted on Mexico’s Bolsa Institucional de Valores stock market.
Colombia's EPM preps bond issuance

Jul 07, 2020 - Carmen Arroyo

Colombian utility Empresa Pública de Medellín is preparing a dollar-denominated corporate bond issuance – its first in 2020 and its sixth in international markets.
Enel increases stake in Chilean subsidiary

Jul 07, 2020 - Carmen Arroyo

Italy's Enel has increased its stake in Chilean subsidiary Enel Chile by 3% as part of an effort to buy out minority shareholders in its South American businesses.
Peruvian gas pipeline company lines up financing

Jun 30, 2020 - Carmen Arroyo

Gas Natural de Lima y Callao, also known as Cálidda, is working on an up-to-$100 million loan to fund the expansion of its gas distribution system in Lima and Peru's constitutional province of Callao.
Details emerge on Northland’s EBSA financing

Jun 29, 2020 - Carmen Arroyo

Details have emerged on the non-recourse holdco debt package arranged by Northland Power to finance its acquisition of Colombian distribution utility Empresa de Energía de Boyacá.
Northland arranges holdco financing for Colombian utility

Jun 25, 2020 - Carmen Arroyo

Canada's Northland Power has signed an agreement for a C$465 million ($340.7 million) non-recourse holdco debt package to finance its acquisition of Colombian distribution utility Empresa de Energía de Boyacá (EBSA).
PG&E prices high yield bonds, term loan B

Jun 23, 2020 - Richard Metcalf

Pacific Gas & Electric priced two tranches of high yield bonds and a term loan B last week, capping the initial financing for its exit from Chapter 11
PG&E raises almost $9 billion with FMB offering

Jun 16, 2020 - Richard Metcalf

Pacific Gas & Electric priced part of its huge bankruptcy exit financing package on June 16, raising $8.925 billion in investment grade debt just days after receiving court approval for the transaction.
Fuel cell developer tops up debt

Jun 16, 2020 - Shravan Bhat

FuelCell Energy has obtained a $35 million three-month loan from existing lender Orion Energy Partners to ease the company's liquidity issues in light of the Covid-19 crisis.
Cox Energy looks to list Americas sub in Mexico

Jun 05, 2020 - Richard Metcalf

Spanish renewable energy developer Cox Energy has begun the regulatory process to list its Cox Energy Americas subsidiary on Mexico's Bolsa Institucional de Valores stock market.
Pacific Hydro pursues corporate refi

Jun 03, 2020 - Carmen Arroyo

Pacific Hydro, a renewable energy company with assets in Australia, Chile and Brazil, is looking to refinance corporate debt with a roughly $400 million loan.
PG&E restructuring gets regulatory nod

May 29, 2020 - Shravan Bhat

The California Public Utilities Commission has approved the Chapter 11 restructuring of Pacific Gas and Electric Co.
Judge confirms Longview prepack deal

May 28, 2020 - Shravan Bhat

Judge Brendan Shannon of the US Bankruptcy Court for the District of Delaware has issued an order confirming the prepackaged Chapter 11 reorganization of the 700 MW Longview Power coal-fired project in West Virginia.
IDB backs up Enel's distribution network in Chile

May 26, 2020 - Carmen Arroyo

Enel Green Power's distribution subsidiary in Chile, Enel Distribución, is negotiating a debt package with IDB Invest to ease its Covid-19-related liquidity problems.
Talen prices high yield offering

May 20, 2020 - Richard Metcalf

North American independent power producer Talen Energy Supply has priced an eight year high yield bond to refinance existing debt.
Clearway reopens high yield bond

May 19, 2020 - Richard Metcalf

Clearway Energy Group has priced a tap of a series of high yield green bonds that mature in 2028.
AES prices senior secured bond

May 17, 2020 - Richard Metcalf

AES Corp has priced a $1.6 billion dual-tranche senior secured bond offering to refinance existing unsecured debt.
AES launches senior secured bond

May 15, 2020 - Richard Metcalf

AES Corp has launched a first lien senior secured bond offering to refinance existing unsecured debt.
AES lays groundwork for senior secured bond

May 12, 2020 - Richard Metcalf

AES Corp is preparing to meet fixed-income investors ahead of a potential senior secured bond offering.
Avangrid closes green bond

Apr 14, 2020 - Shravan Bhat

Avangrid has closed its third green bond—a $750 million, five-year senior unsecured offering.

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Jul 10, 2020 - Power Finance & Risk

17th Annual PFR Deal of the Year short lists revealed

After sifting through more than 100 nominations, Power Finance & Risk is pleased to announce the short lists for its 17th Annual Deal of the Year Awards.
Jul 10, 2020 - Richard Metcalf

The Buzz: New normal… or same old crazy?

Since the novel coronavirus crashed into the US economy in March, the project finance market seems, for now at least, to have settled into a new groove. But while loan margins have widened versus the exuberant pre-pandemic days, some officials still suspect that the market—especially for renewable energy—may be overheated.
Jul 02, 2020 - Richard Metcalf

The Buzz: Political risk

Last week, we published a case study on the uncertain fate of Engie and Tokyo Gas’s Golden Eagle renewable energy portfolio in Mexico in the context of President Andrés Manuel López Obrador’s controversial energy policy (PFR, 6/25). But political risk is not confined to Latin America, and project finance bankers may do well to consider the risks in the US, too.

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