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IFM looks to refinance Essential Power
20 July 2012
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[ifm]
[essential power]
[new jersey]
[maryland]
Essential Power has launched a $565 million senior secured term loan to refinance existing debt. Barclays is lead left on the transaction, alongside Credit Suisse, Royal Bank of Canada and Union Bank. The banks are also providing a $100 million revolving credit. The senior secured term loan is priced at 450bp over Libor; it has a floor of 125bp and a soft call of 101% of par. The loan has a...
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