Pattern Energy to repay revolver borrowings with funds from new notes

By Marisa Wong

Morgantown, W.Va., Jan. 17 – Pattern Energy Group Inc. plans to repay borrowings under its revolving credit facility using about $128 million of proceeds from a notes offering, according to a press release.

The revolver borrowings, of which $125 million was drawn after Sept. 30, were used to finance the purchase of the Armow wind project in Ontario.

On Tuesday the company announced plans to offer $350 million of seven-year senior notes.

Remaining proceeds will be used to fund renewable energy projects.

The independent power company is based in San Francisco.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.