Lotus Refinances Portfolio of Natural Gas-fired Power Plants

December 20, 2017 in Press Releases

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.