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Lightstone tenders for up to $75 million of first-lien term loan debt
By Sara Rosenberg
New York, Nov. 9 – Lightstone Holdco LLC launched on Wednesday an up to $75 million Dutch tender offer for its first-lien term loan, according to a market source.
All discounted prepayment offers will be evaluated, the source said.
Offers are due by 5 p.m. ET on Thursday.
Jefferies LLC is the lead on the deal.
The tender offer will be funded with cash on hand.
Lightstone, a 50/50 joint venture owned by affiliates of Blackstone Group LP and ArcLight Capital Partners LLC, consists of a 5.3 GW portfolio of four generation facilities located in the PJM Interconnection market.
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