Borrower Strategies

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  • Sempra unveils new energy infrastructure platform

    Dec 02, 2020 - Carmen Arroyo

    Sempra Energy has announced plans to simplify its North American energy infrastructure subsidiaries by launching Sempra Infrastructure Partners a business platform that will combine Sempra LNG and Mexico's IEnova, and sell a non-controlling stake in the new entity in early 2021.
  • AES Gener set to launch downsized capital increase

    Dec 02, 2020 - Carmen Arroyo

    AES Gener is set to request permission from its board for a $300 million capital hike to finance the development of its 1.6 GW renewable energy pipeline in Chile and Colombia, having reassessed its need for equity earlier this year.
  • FirstEnergy disclosure trips anti-corruption reps and warranties

    Nov 20, 2020 - Richard Metcalf

    FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming from the disclosure of a roughly $4 million payment that was uncovered as part of an internal bribery investigation.
  • FirstEnergy disclosure breaches anti-corruption reps and warranties

    Nov 20, 2020 - Richard Metcalf

    FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming fromthe disclosure of a roughly $4 million payment in 2019 that was uncovered as part of an internal bribery investigation.
  • Vermont-based developer finds corporate debt

    Nov 19, 2020 - Richard Metcalf

    Vermont-based solar and energy storage developer Encore Renewable Energy has obtained a corporate loan to finance development activity.
  • NRG prices bonds for M&A, including sustainability-linked debut

    Nov 18, 2020 - Richard Metcalf

    NRG Energy has priced a roughly $3.8 billion five-tranche bond offering – including the first ever sustainability-linked notes from a US issuer – to finance its acquisition of North American energy retailer Direct Energy.
  • NRG set to price bonds for Direct Energy purchase

    Nov 17, 2020 - Richard Metcalf

    A $3.9 billion five-tranche bond offering by NRG Energy to finance its acquisition of North American energy retailer Direct Energy is set to be priced later today, November 17.
  • NRG launches bonds for Direct Energy M&A

    Nov 16, 2020 - Richard Metcalf

    NRG Energy has announced several bond offerings it intends to use to finance its acquisition of North American energy retailer Direct Energy from Centrica.
  • Glenfarne mandates banks for holdco refi

    Nov 12, 2020 - Carmen Arroyo

    Glenfarne Group has assembled a group of banks to arrange a $1 billion to $1.2 billion holding company refinancing for its 1.4 GW portfolio of Latin American generation assets.
  • Chile’s Enel to create transmission subsidiary

    Nov 03, 2020 - Carmen Arroyo

    Enel Chile’s power distribution subsidiary, Enel Distribución, is preparing to separate its transmission assets into a new company called Enel Transmisión.
  • Brookfield closes second tranche of TransAlta hydro deal

    Nov 02, 2020 - Richard Metcalf

    Brookfield Renewable Partners has closed the $400 million second part of a deal to buy TransAlta Corp securities totaling $750 million that are convertible into hydro project equity.
  • PIMCO joins SPAC craze with Crane at helm

    Oct 13, 2020 - Richard Metcalf

    Bond-focused fund manager Pacific Investment Management Co (PIMCO) is the latest sponsor to back a low carbon blank check company, with former NRG Energy leader David Crane as chief executive.
  • Flush with cash, AES Gener delays capital raise

    Oct 05, 2020 - Carmen Arroyo

    AES Gener has decided to postpone a $500 million capital increase, the proceeds of which it had planned to use to fund its 1.6 GW solar and wind pipeline in Chile and Colombia, having raised the cash by other means.
  • GIP lends to Mexican power co as debt funds near final close

    Sep 30, 2020 - Staff Writer

    With two debt funds nearing final close, Global Infrastructure Partners has provided a $325 million secured term loan for Mexican power producer Saavi Energia.
  • Enel to reorganize LatAm businesses

    Sep 22, 2020 - Carmen Arroyo

    Italian energy company Enel has begun the process of integrating its renewable energy businesses in Central and South America, other than in Chile, into its main Americas subsidiary, Enel Americas.
  • IEnova bond offering closes

    Sep 15, 2020 - Richard Metcalf

    Sempra Energy subsidiary IEnova has raised $800 million in the bond market with a 31-year offering that was priced on September 10.
  • Mexico's IEnova plans bond offering

    Sep 09, 2020 - Carmen Arroyo

    Sempra Energy's Mexican subsidiary IEnova is preparing to issue up to $800 million in bonds as investors keep an eye on the country's sovereign credit rating.
  • Peruvian transmission firm preps bond tap

    Sep 08, 2020 - Carmen Arroyo

    Peru’s second-largest transmission company, Consorcio Transmantaro (CTM), is planning to offer an additional $200 million of bonds under an existing series.
  • NJR funds solar with second green private placement

    Sep 03, 2020 - Shravan Bhat

    New Jersey Resources tapped the private placement market with a green offering this week to raise funds for its latest portfolio of small utility-scale solar plants.
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    Nov 20, 2020 - Richard Metcalf

    Putting the ESG into USA

    NRG Energy has brought the US capital markets a step forward with its inaugural sustainability-linked bond, introducing a new flavor of greens for its debt investors to chew on. But as usual, European corporations led the way.

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    Nov 13, 2020 - Richard Metcalf

    Return of the two-digit margins

    The apparently unstoppable trend of ever-tightening project finance margins finally hit the buffers in March 2020. But now, even as the pandemic continues to rage, the race to the bottom is back with a vengeance.

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    Oct 23, 2020 - Richard Metcalf

    What’s in a name?

    When Engie and EDP Renováveis christened their offshore wind joint venture Ocean Winds, you could be forgiven for assuming that it had taken about 10 seconds to come up with the name. But in the branding world, nothing is that simple.

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