Lending

This week, First Citizens Bank agreed to a whole bank purchase of Silicon Valley Bank, taking on all its loans and certain other assets, as well as assuming all its customer deposits and certain other liabilities. In all, First Citizens is taking assets of $110 billion, deposits of $56 billion and loans of $72 billion.

Voya Investment Management, the asset management business of Voya Financial, has reached first close on an infrastructure debt fund that is focused on renewables project financing.

Invenergy has secured construction financing for the second phase of a massive 1.3 GW solar project in Texas.

A pair of investors has closed acquisition financing to support their purchase of the Canadian operations of Brookfield Infrastructrure Partners' district energy business, Enwave Energy.

NextEra Energy Partners plans to upsize a $1.1 billion convertible equity financing that it secured in November with a consortium of investors led by KKR & Co.

CarVal Investors has raised $490 million for its CVI Renewable Energy Fund, almost double its initial target of $250 million.

Quinbrook Infrastructure Partners' portfolio company Scout Clean Energy has secured a $50 million letter of credit facility.

Three members of BlackRock’s infrastructure credit group have left the firm for The Carlyle Group in New York.

I Squared Capital has launched a $405 million term loan B package as part of the financing of its $961 million acquisition of publicly-listed independent power producer Atlantic Power Corp.

Deal watchers say the sudden bankruptcy filing of Brazos Electric Power Cooperative – which had previously enjoyed single-A credit ratings – could be the first of many in the wake of the recent winter storms in Texas.