AlphaGen Announces Successful Completion of $3.7 Billion Inaugural Corporate Financing.
Alpha Generation, LLC (“AlphaGen”), owner of one of the largest power infrastructure portfolios in the United States, today announced it has completed its inaugural corporate financings, consisting of a $2 billion senior secured term loan, $1 billion of senior notes, and a $700 million senior secured revolving credit facility. ArcLight Capital Partners, LLC (together with its affiliates, “ArcLight”), a leading middle market infrastructure firm, announced the creation of AlphaGen earlier this year.
The financing transactions were part of a corporate reorganization where existing companies – including Parkway Generation, Generation Bridge, and recently acquired Lordstown Energy Center – became subsidiaries of AlphaGen. Net proceeds from the term loan and notes were used to repay certain indebtedness of these subsidiaries, support commercial and strategic opportunities, and fund other general corporate purposes.
Stacey Peterson, Chief Financial Officer of AlphaGen:
We are pleased to announce the successful completion of our strategic financing initiative, which strengthens our financial position and enhances our ability to capitalize on the growing demands in the power industry.
“This significant milestone underscores investor confidence in the AlphaGen portfolio and its strategic footprint which is well positioned to help meet growing power demand, including through ongoing work with data center developers and hyperscalers.”
Citi served as lead financing bank, White & Case LLP served as counsel to AlphaGen, and Cahill Gordon & Reindel LLP served as counsel to Citi and the other lead arrangers on the financing transactions.
READ the latest news shaping the data centre market at Data Centre Central
AlphaGen Announces Successful Completion of $3.7 Billion Inaugural Corporate Financing. source