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MUFG Refinances $500MM in Credit Facilities for Invenergy’s Thermal Power Assets

September 07, 2023, 07:07 AM
Filed Under: Energy

Mitsubishi UFJ Financial Group (MUFG) announced the refinancing of $500 million in credit facilities for Invenergy Thermal Operating I (“ITOI”), a 2.29 GW natural gas-fired power generation portfolio jointly owned by Invenergy and InfraBridge, and managed by Invenergy. ITOI includes four operational natural gas-fired power plants located across North America. The credit facilities include a $325 million Term Loan B, a $25 million Term Loan C, and a $150 million revolver.

MUFG acted as Left Lead Arranger, Joint Bookrunner, and Administrative Agent on the transaction, leveraging its power sector expertise and distribution capabilities to successfully lead the ratings process and syndicate the transaction. The funds will help Invenergy to better position its portfolio of dispatchable generation assets for decarbonizing markets.

“MUFG is proud to have partnered with Invenergy, a leading player in the North American power market, on this notable transaction,” said Louise Pesce, Managing Director, Project Finance at MUFG. “Utilizing our deep lender and investor relationships across the power sector, MUFG was able to successfully lead a group of banks and institutional investors in this financing despite market headwinds.”

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