Copying and distributing are prohibited without permission of the publisher
Nevada Geothermal closes first FIPP loan with John Hancock
08 September 2010
Read more:
[john hancock]
[nevada geothermal]
[nevada]
[blue mountain]
[doe]
[FIPP]
Nevada Geothermal has closed a $98.5 million loan for its Blue Mountain 1 geothermal plant with John Hancock. The US Department of Energy is guaranteeing 80% of the 20-year loan under the financial institutions partnership programme (FIPP), and the deal is the first FIPP loan to close. FIPP involves a private lender applying for a guarantee on behalf of a developer and sharing in due diligence with the department.
The debt, carrying a blended interest rate of 4.14%, partially refinances a $180 million loan from TCW, which carried an interest rate of 14%. The financing is comfortably inside the sponsor's original 5% expectation, thanks to a recent plunge in yields on US treasury...
You must be logged in to view this page. If you are already a subscriber, or have an active trial, simply log in below.
If you’re not a registered user, you can get access to the website by taking a free trial. You can register for a trial online or by contacting our sales team – simply email benchbase@projectfinancemagazine.com or call +44 (0) 20 7779 8284.
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Subscribe
Free trial
Taking a free trial will give you access to the latest news and analysis, as
well as the online deals database, BenchBase. Start your free trial today.
Free Trial