Hecate Energy closes $550 million five-year credit facility

By Marisa Wong

Los Angeles, Jan. 24 – Hecate Energy announced the recent close of a $550 million five-year credit facility package, inclusive of a $250 million term loan and $300 million letter-of-credit facility to support further expansion of its solar and energy storage project pipeline.

The new credit facilities will be collateralized by Hecate’s roughly 35 gigawatt pipeline of renewables development projects, along with its minority ownership interests in Hecate Grid.

Investec Inc. and Nomura Securities International led the financing and, along with National Bank of Canada and Deutsche Bank, were initial coordinating lead arrangers and syndication agents, with Generate Capital acting as a coordinating lead arranger and documentation agent for the transaction.

Ten lenders participated in the primary syndication, and Norton Rose Fulbright acted as lenders’ counsel.

PEI Global Partners acted as Hecate’s financial adviser on this financing, and Winston & Strawn acted as borrower’s counsel.

Based in Chicago, Hecate is a developer of solar and wind generation facilities and energy storage solutions.

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