St. Joseph Energy firms $337 million term loan B floor at 0.75%

By Sara Rosenberg

New York, Sept. 22 – St. Joseph Energy Center finalized the floor on its $337 million first-lien term loan B due September 2028 (Ba3) at 0.75%, compared to previous guidance of 0.5% or 0.75%, according to a market source.

Pricing on the term loan remained at SOFR+CSA plus 425 basis points with an original issue discount of 97.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for one year.

BNP Paribas Securities Corp. is the sole lead on the deal.

Final commitments were scheduled to be due at noon ET on Friday, the source added.

Proceeds will be used to amend and extend an existing $337 million first-lien term loan B due 2025.

The company is also planning to amend and extend its existing revolving credit facilities.

St. Joseph Energy Center, owned by Ares EIF Management LLC & Toyota Tsusho America Inc., is the owner of a 740.5 MW highly efficient combined cycle gas-fired power plant located in New Carlisle, Ind.

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