By Cady Vishniac
Detroit, Dec. 15 – EnfraGen, LLC subsidiaries EnfraGen Energia Sur, SAU, Prime Energia SpA and EnfraGen Spain, SAU have priced $710 million of 5 3/8% senior secured notes due 2030 (Ba3), according to a press release.
The proceeds of the Rule 144A and Regulation S issue, together with a $1.05 billion bank debt package, will be used to refinance debt and fund the acquisition of operational solar projects in Chile and the acquisition of project Phoenix. Any proceeds left will go in reserves.
Enfragen is a subsidiary of Glenfarne Group, LLC, a privately held energy and infrastructure development and management firm based in New York with offices in Panama and Chile.
| Issuers: | EnfraGen Energia Sur, SAU, Prime Energia SpA and EnfraGen Spain, SAU
|
| Issue: | Senior secured notes
|
| Amount: | $710 million
|
| Maturity: | 2030
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| Coupon: | 5 3/8%
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| Announcement date: | Dec. 15
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| Settlement date: | Dec. 17
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| Ratings: | Moody’s: Ba3
|
| Distribution: | Rule 144A and Regulation S
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