CPV Shore to launch $545 million credit facilities on Monday

By Sara Rosenberg

New York, Nov. 30 – CPV Shore Holdings LLC is set to hold a lender presentation at 2 p.m. ET on Monday to launch $545 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc., MUFG and Credit Agricole CIB are the leads on the deal.

The facilities consist of a $120 million revolver and a $425 million term loan B, the source said.

Proceeds will be used to refinance an existing term loan, fund a distribution to the sponsors and pay transaction fees and expenses.

CPV Shore is part owner of Woodbridge Energy Center, a 725 MW combined cycle, natural gas-fired facility in Middlesex County, N.J.

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