Borrower Strategies

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  • Clearway Raises $75M with Equity Offering

    Oct 01, 2018 - Richard Metcalf

    Yield company Clearway Energy priced a capital raise at $19.15 per share last week, raising about $75 million toward its acquisition of the Carlsbad gas-fired project in California from NRG Energy.
  • Clearway Taps UBS for Equity Offering to Fund Carlsbad Purchase

    Sep 26, 2018 - Richard Metcalf

    Clearway Energy, the yield company formerly known as NRG Yield, has hired UBS for the latest chunk of financing for its acquisition of the Carlsbad gas-fired project in California.
  • Dominion Joins MLP Buy-In Spree

    Sep 20, 2018 - Taryana Odayar

    Dominion Energy has added its name to the string of companies absorbing their master limited partnerships (MLPs) amidst increasingly pessimistic MLP sentiment in the capital markets, by offering to purchase its own MLP, Dominion Energy Midstream Partners.
  • Clearway Upsizes First Bond Since Rebrand

    Sep 17, 2018 - Richard Metcalf

    Clearway Energy, the yield company formerly known as NRG Yield, came away from the bond market with more than expected on its first debt capital markets outing since transitioning to a new sponsor and a new name.
  • AltaGas Looks to Float Assets in Fundraising Drive

    Sep 13, 2018 - Taryana Odayar

    AltaGas is preparing to launch an initial public offering through which it will spin off some of its Canadian assets and utilities as part of the fundraising push for its acquisition of WGL Holdings.
  • Moody’s Downgrades California Utility Trio

    Sep 07, 2018 - Shravan Bhat

    In the wake of this summer's California wildfires, Moody’s Investors Service has downgraded ratings on three west coast utilities, despite the passage of legislation that would allow them to pass some liabilities on to customers.
  • Industry Current: Springtime for Project Finance CLOs?

    Aug 30, 2018 - J. Paul Forrester, Mayer Brown

    Just as one robin (or, depending on your geographic location, swallow) doesn’t make a spring, two project finance CLOs (PF CLOs)—Bayfront Infrastructure and RIN—may not confidently mark the re-emergence of PF CLOs. They are, nevertheless, a positive and potentially significant development, writes Paul Forrester, Chicago-based partner at Mayer Brown.
  • FirstEnergy Units Put Deal to Bankruptcy Judge, Cancel Retail Biz Auction

    Aug 30, 2018 - Richard Metcalf

    As a settlement deal emerges in the bankruptcy case of several FirstEnergy Corp. subsidiaries, the debtors have called off an auction that was set to take place next week for its retail sales business.
  • Sunrun Plans Second ABS Issuance

    Aug 27, 2018 - Fotios Tsarouhis

    Residential solar developer Sunrun will launch a securitization backed by leases and power purchase agreements within the next month, say deal watchers.
  • Starwood Launches H.Y. Bond Sale to Support GE P.F. Deal

    Aug 15, 2018 - David Bell

    Starwood Property Trust was looking to price a $300 million high yield bond on Wednesday to support the acquisition of GE Capital’s energy project finance business.
  • Entergy Sub Sells FMB to Fund Louisiana Gas-fired Pair

    Aug 09, 2018 - Richard Metcalf

    Entergy Corp.’s regulated utility subsidiary in Louisiana priced a $600 million first mortgage bond on Aug. 8, listing construction of two gas-fired plants totaling more than 1.9 GW among the uses of proceeds.
  • Wheelabrator Seeks Approval for IPO

    Aug 03, 2018 - Shravan Bhat

    Energy Capital Partners' waste-to-energy portfolio company Wheelabrator Technologies has sought approval to float 49% of its shares on either the New York Stock Exchange or Nasdaq.
  • Fuel Cell Co. Floats Stock

    Jul 25, 2018 - Shravan Bhat

    Shares in California-based fuel cell maker Bloom Energy, which began trading on the New York Stock Exchange today, attracted strong demand in the secondary market, gaining in value by more than 50% by midday.
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    10 Years Ago: Lehman Brothers—Where Are They Now?

    When the financial crisis struck 10 years ago, Lehman Brothers had a large and prominent power and utilities investment banking team. Many of those bankers (who had nothing to do with the investments in mortgage-backed securities that brought Lehman down) are still active in the industry. PFR has looked at where some of them are now.

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