Starwood Energy Refinances Portfolio of Natural Gas-fired Power Plants
December 20, 2017 in
GREENWICH, CT. – December 20th, 2017 – Starwood Energy Group Global has closed on the refinancing of a portfolio of natural gas-fired power plants.
The portfolio, known as Compass Power, is comprised of Marcus Hook Energy Center, Milford Power and Dighton Power.
Compass Power raised a $750 million term loan and a $60 million revolver, which were used to repay existing debt, to fund capex and to fund a distribution. The transaction was oversubscribed by more than three times following an upsizing of $50 million, reduction in pricing and tightening of original issue discount.
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