Deal details

Arclight NJ/MD Thermal Portfolio - Project Acquisition Financing

Description

On February 18, 2022, ArcLight Capital Partners completed an acquisition of nine natural gas-fired power generation facilities in New Jersey and Maryland totaling 4.8 GW (“Parkway Generation”) from Public Service Enterprise Group for $1.37Bn.The transaction represents the largest acquisition of power generation assets in over five years.

Assets involved

Companies involved

  • Morgan Stanley, Goldman Sachs, BNP Paribas, Jefferies Group
  • Goldman Sachs, Morgan Stanley, BNP Paribas, Jefferies Group
  • Sycamore Tree Capital Partners, Morgan Stanley, BNP Paribas, Goldman Sachs, Jefferies Group
  • Morgan Stanley
  • White & Case
  • Latham & Watkins
  • ArcLight Capital Partners
  • Saul Ewing, Rock Creek Energy Group, LLP
  • Morgan Stanley

Key information

Parkway Generation

1240$m

18-02-2022

Power / Gas-fired combined cycle

United States

Project & Infrastructure Finance

Not PPP

Tranche information

Revolving credit facility

100$m

US Dollar - USD

0

5.0 years

-

-

-

Participant role ticket size
BNP Paribas Lender 20$m
Jefferies Group Lender 20$m
Morgan Stanley Lender 20$m
Sycamore Tree Capital Partners Lender 20$m
Goldman Sachs Lender 20$m

Term Loan

1000$m

US Dollar - USD

0

7.0 years

-

-

-

Participant role ticket size
BNP Paribas Lender 200$m
Sycamore Tree Capital Partners Lender 200$m
Goldman Sachs Lender 200$m
Jefferies Group Lender 200$m
Morgan Stanley Lender 200$m

Term Loan

140$m

US Dollar - USD

0

7.0 years

-

-

-

Participant role ticket size
Sycamore Tree Capital Partners Lender 28$m
Goldman Sachs Lender 28$m
Jefferies Group Lender 28$m
Morgan Stanley Lender 28$m
BNP Paribas Lender 28$m