MRP Generation to launch $340 million credit facility on Thursday

By Sara Rosenberg

New York, July 26 – MRP Generation Holdings LLC (Middle River Power) will hold a bank meeting at 12:30 p.m. ET in New York on Thursday to launch a $340 million credit facility, according to a market source.

Goldman Sachs & Co. is the lead bank on the deal.

The facility consists of a $30 million super priority revolver and a $310 million term loan B, the source said.

Proceeds will be used to refinance existing debt.

MRP Generation is the platform established to manage Avenue Capital’s U.S. power generation investment portfolio. The portfolio consists of High Desert (830 MW), Big Sandy (300 MW) and Wolf Hills (250 MW).

© 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.