Longview Power to launch $275 million credit facility on Wednesday

By Sara Rosenberg

New York, March 23 – Longview Power LLC is scheduled to hold a bank meeting at 10 a.m. ET in New York on Wednesday to launch a $275 million first-lien credit facility, according to a market source.

Morgan Stanley Senior Funding Inc. and KKR Capital Markets are the leads on the deal.

The facility consists of a $25 million revolver and a $250 million term loan B, the source said.

Proceeds will be used as exit financing to provide for distributions under the company’s reorganization plan, to complete repairs to the Longview Power Facility and for working capital.

Longview Power is a Maidsville, W.Va.-based integrated power generation enterprise. The company filed for bankruptcy on Aug. 30, 2013. The Chapter 11 case number is 13-12211.

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