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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
CIT Arranges $419MM in Financing for Broad River Power Facility in SC
Friday, November 18, 2022
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Lenders/Participants
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CIT Power & Energy [Lead Arranger]
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Structure
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Term Loan; Letters of Credit; Working Capital Facility
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Amount
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$419.000
Million
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Borrower(s)
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Onward Energy Inc.
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Description
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Financing for acquisition of the Broad River power generation facility in Gaffney, South Carolina. Onward Energy Inc. is acquiring the five-unit, 860-megawatt simple-cycle peaking power plant, which is fully contracted under a long-term power purchase tolling agreement with Duke Energy Progress Inc. The financing package included a term loan, letters of credit and a working capital facility.
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Industry
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Energy
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Location
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SC
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| Related Tags |
CIT First Citizens, CIT Power & Energy
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ABL Advisor
Deal Tables
2024
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