Archaea Energy unit to amend, upsize loan to at least $920 million

By William Gullotti

Buffalo, N.Y., June 6 – Archaea Energy Inc. announced a subsidiary obtained binding commitments to amend and upsize its senior secured credit facility to at least $920 million, according to a press release on Monday.

The amended and upsized facility is expected to include an approximately $400 million senior secured term loan credit facility and an approximately $520 million senior secured revolver, reflecting approximately $450 million in aggregate lender commitments.

Comerica Bank, through its renewable energy solutions group, is the administrative agent as well as a joint lead arranger and joint bookrunner with Citizens Bank, NA, Bank of Montreal, Chicago Branch and JPMorgan Chase Bank, NA.

Citigroup Global Markets, Inc., Citibank, NA and Citicorp North America, Inc. will act as co-syndication agents with additional unnamed affiliates.

The amendments and final facility totals are expected to be completed prior to June 30.

Based in Houston, Archaea is a renewable natural gas (RNG) developer that partners with landfill and farm owners to transform potential emissions sources into energy-producing RNG.

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