Lightstone finalizes extended term loan B and term loan C sizes

By Sara Rosenberg

New York, May 12 – Lightstone Holdco LLC is extending $1,461,050,967 of its $1.641 billion term loan B and $82,407,225 of its roughly $93 million term loan C to Jan. 30, 2027, according to a market source.

Pricing on the extended term loans is SOFR plus 575 basis points with a 1% floor.

The extended term loans have a par issue price and extending accounts will receive a 1% amendment fee.

Included in the amended and extended term loans is hard call protection of 103 in year one, 102 in year two and 101 in year three, and a debt service coverage ratio covenant.

Jefferies LLC is the bookrunner on the amended and extended senior secured term loans (B2/B-).

The extension received consents from 89.61% of lenders, the source added.

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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