Western Generation launches term loan B at Libor plus 425 bps area

By Sara Rosenberg

New York, Oct. 25 – Western Generation Partners (WGP Acquisition LLC) launched on Tuesday its $245 million term loan B with price talk in the Libor plus 425 basis points area with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

The company’s $305 million credit facility also includes a $15 million revolver and a $45 million letter-of-credit facility.

Macquarie Capital (USA) Inc. and MUFG are the leads on the deal.

Commitments are due on Nov. 8, the source added.

Proceeds will be used to help fund the acquisition of certain projects from First Reserve’s North American Power I portfolio and Trinity Power.

Harbert Capital and UBS Infrastructure are the sponsors.

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