Generation Bridge to launch $846.3 million term loan B on Monday

By Sara Rosenberg

New York, March 8 – Generation Bridge Northeast LLC is scheduled to hold a lender call at 1 p.m. ET on Monday to launch a roughly $846.3 million senior secured term loan B due Aug. 22, 2029, according to a market source.

Jefferies LLC is the arranger on the deal.

The term loan has 101 soft call protection for six months and a debt service coverage ratio covenant, the source said.

Expected term loan ratings are Ba2/BB.

Proceeds will be used to reprice an existing term loan B from SOFR plus 425 basis points with a 0% floor.

Consents and commitments are due at noon ET on Thursday, the source added.

Generation Bridge Northeast is an owner of power generation facilities in the Northeast representing about 5 GW of generation capacity diversified across three ISO markets.

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