Star West firms $750 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, May 29 - Star West Generation LLC finalized pricing on its $750 million senior secured term loan B due March 13, 2020 at Libor plus 325 basis points, the wide end of the Libor plus 300 bps to 325 bps talk, according to a market source.

The loan still has a 1% Libor floor, a par offer price, 101 soft call protection until March 2014 and amortization of 1% per annum.

Citigroup Global Markets Inc. is the lead bank on the deal.

Proceeds will be used to refinance an existing term loan B that is priced at Libor plus 400 bps with a 1% Libor floor.

Star West Generation is a Houston-based power producer.

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