Allegheny Energy Supply $969 million facility to launch Thursday

By Sara Rosenberg

New York, March 31 - Allegheny Energy Supply Co. LLC is scheduled to hold a conference call on Thursday to launch its all pro-rata $969 million credit facility, according to a market source.

Citigroup is the lead bank on the deal.

The facility consists of a $769 million five-year term loan and a $200 million five-year revolver, with both tranches talked at Libor plus 87.5 basis points, the source said.

The revolver carries a 20 bps commitment fee.

Upfront fees will be 15 bps for lender commitments.

Proceeds will be used to repay in full the company's institutional term loan C, which carries an interest rate of Libor plus 150 bps.

Allegheny Energy Supply is a Monroeville, Pa., power production business segment of utility holding company Allegheny Energy.

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