Gemini HDPE’s Term Loan B repricing has set final pricing at Libor plus 250bp with no Libor floor, the wide end of guidance in the range of 225bp to 250bp over Libor with a 1% Libor floor.
TerraForm Power has launched a US$1.2bn multi-tranche 144A offering with maturities out to 10 years, upsized from a planned US$1bn.
BlackRock is in the market with a US$325m Term Loan B to back its acquisition of a 50% interest in the Glass Mountain Pipeline from SemGroup.
There are three provisions creating significant concern for project finance in the Tax Cuts and Jobs Act: the base erosion anti-abuse tax (BEAT), international alternative minimum tax (AMT), and the elimination of private activity bonds (PABs).
EDF Renewable Energy has signed an agreement to supply Google with 200MW of wind energy from its Glaciers Edge wind project in Iowa.
Citigroup is preparing to price roughly US$200m in revenue bonds for Public Finance Authority as a conduit issuer on behalf of Denver Great Hall, the private partner on the Denver International Great Hall airport terminal project. Fitch said it expects to rate the issue Triple B with a stable outlook.
Compass Power Generation has launched a US$760m Term Loan B with price talk of 400bp over Libor with a 1% floor and a discount of 99.
The Michigan Department of Transportation (MDOT) has received five responses to its request for qualifications (RFQ) on the I-75 modernisation project. Teams competing for the deal include Meridiam/Walsh; Aecom/John Laing; Star America Infrastructure Fund/Vinci, Fengate Capital/Acciona; and Grupo ACS/Dragados.
Ontario has issued its long-term infrastructure plan, with a focus on roads, sustainability in government buildings, and a strategy to expand high-speed internet service.
Infrastructure Ontario and Metrolinx are working to determine the scope of two separate procurements for the GO Regional Express Rail (RER) project, officials said at a recent conference.
Tidewater Midstream & Infrastructure and TransAlta have entered into a letter of intent to construct a 120km natural gas pipeline from Tidewater’s Brazeau River Complex to TransAlta’s generating units at Sundance and Keephills.
Axium Infrastructure will utilise a C$396.7m (US$312m) term loan to back its acquisition of a portfolio of eight ground-mounted, fixed-tilt crystalline photovoltaic plants in Ontario from TransCanada. Axium is placing the loan privately, without outside banks or dealers.
Moody’s has downgraded the bonds on the Puerto Rico’s toll roads P3 and affirmed the rating on its airport P3 after a review period following Hurricane Maria
The Chicago Infrastructure Trust has received responses from six teams on its request for qualifications (RFQ) for the Joint Public Safety Training Academy (JPSTA) project.
Macquarie Capital and Rivada Networks are partnering to pursue opt-out state contracts under FirstNet legislation. The first initiative of the alliance is a conditional award from the State of Colorado to build out its public-safety broadband radio access network.
EQT Infrastructure III and terminal operator P5 Infrastructure have closed the acquisition of Eagle Marine Services (EMS), the operator of the Global Gateway South (GGS) container terminal in the Port of Los Angeles, with an enterprise value of approximately US$875m.
Navitas Midstream Midland Basin is in the market with a US$400m Term Loan B to finance the construction of Glasscock plant, a cryogenic natural gas processing plant.
DJ Gribbin, special assistant to the President for infrastructure policy, said the development of the “One Federal Decision” project authorisation streamlining initiative is an “enormous focus” of the administration.
Calpine is in the market with a US$550m follow-on bond offering and US$1bn Calpine Construction Finance Company (CCFC) first-lien term loan.
MUFG was set to launch a repricing of a US$235m Term Loan B for Western Generation Partners as PFI went to press.
NY Green Bank has issued a new request for proposals (RFP) to evaluate strategies for raising, investing and managing at least US$1bn in third-party capital to support New York’s energy goals.
The Federal Energy Regulatory Commission (FERC) has upheld its refusal to give Energy Transfer Partners a blanket certificate for continued construction on the Rover pipeline in the Midwest US after the company demolished a historic building in Ohio without permission.
Corvias Campus Living WSU has closed a US$307.5m bond offering to finance the addition of 850 new beds and rehabilitation of the entire on-campus student housing system at Wayne State University through a long-term public-private partnership.
Enel has agreed to sell an 80% stake in the 200MW Caney River wind farm and 150MW Rocky Ridge wind farm to investment fund Gulf Pacific Power for US$233m. The deal is expected to close by year-end.
Clean Energy Future has landed approval for the 955MW Clean Energy Future–Oregon gas-fired project in Oregon, Ohio. The approval will now kick off the financing process in earnest.
Ares Management, through energy arm Ares EIF, has reached an agreement to sell a 1.2GW portfolio consisting of four coal-fired power projects to Starwood Energy Group.
The Eglinton Crosstown light rail transit P3 has faced difficulties with utility work and permits that could result in construction delays, according to Moody’s.
The Government of Newfoundland and Labrador will launch a request for qualifications (RFQ) this month for a long-term care facility P3 in Grand Falls-Windsor.
Connor Clark & Lunn Infrastructure has closed US$188m and US$171m bond offerings to finance Windsor Solar and Southgate Solar, 50MW ground-mounted operating solar facilities in Essex County and County of Grey, Ontario.
CDPQ Infra, a subsidiary of Caisse de dépôt et placement du Québec, is keeping the tender process open on the Réseau électrique métropolitain (REM) public transit network, pushing back the timeline on the project.
LNG developer Tellurian has priced an offering of 10m shares at US$10 each, representing a discount of roughly 17% to the prior day’s closing price.
Canadian Solar’s Recurrent Energy unit has signed a 20-year power purchase agreement for 45MW of power with Bay Area Rapid Transit (BART) in California. Power will be supplied from Recurrent’s Gaskell West 2 solar photovoltaic project in southern California.
The Massachusetts Clean Energy Center has selected 26 projects to share in US$20m in grant funding for energy storage projects in the state. Sunrun, GE, NextEra Energy, National Grid and Tesla are among the winners.
PG&E has presented six energy storage contracts totalling 165MW to the California Public Utilities Commission for review and approval.
Representatives from both sides of the solar tariff debate testified during an eight-hour early December hearing at the Office of the United States Trade Representative (USTR) in Washington.
Cape Wind Associates has notified the US Department of the Interior that it will cancel the permit it was granted for the proposed Cape Wind offshore wind project. Planning for the project started in 2001 and faced extensive opposition and frequent court challenges.