MUFG refinances $500 million in credit facilities for Invenergy’s thermal power assets
New York, September 6, 2023 – Mitsubishi UFJ Financial Group (MUFG) is pleased to announce the refinancing of $500 million in credit facilities for Invenergy Thermal Operating I (“ITOI”), a 2.29 GW natural gas-fired power generation portfolio jointly owned by Invenergy and InfraBridge, and managed by Invenergy. ITOI includes four operational natural gas-fired power plants located across North America. The credit facilities include a $325 million Term Loan B, a $25 million Term Loan C, and a $150 million revolver.
MUFG acted as Left Lead Arranger, Joint Bookrunner, and Administrative Agent on the transaction, leveraging its power sector expertise and distribution capabilities to successfully lead the ratings process and syndicate the transaction. The funds will help Invenergy to better position its portfolio of dispatchable generation assets for decarbonizing markets.
“MUFG is proud to have partnered with Invenergy, a leading player in the North American power market, on this notable transaction,” said Louise Pesce, Managing Director, Project Finance at MUFG. “Utilizing our deep lender and investor relationships across the power sector, MUFG was able to successfully lead a group of banks and institutional investors in this financing despite market headwinds.”
Press contact:
Oksana Poltavets
T: +1-646-767-1326
opoltavets@us.mufg.jp
About Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com.
About InfraBridge
InfraBridge is a leading infrastructure investment manager dedicated to investing in mid-market businesses in transportation and logistics, digital infrastructure, and energy transition, among other key sectors. The firm's investment strategy applies private equity rigor with an active approach to asset management in order to maximize value and drive returns on behalf of investors. Formerly AMP Capital's international infrastructure equity business, InfraBridge is now a division of DigitalBridge Group, Inc. (NYSE: DBRG), a leading global digital infrastructure firm managing a $65 billion portfolio of digital infrastructure assets on behalf of its investors. InfraBridge is headquartered in London, United Kingdom. For more information, visit: www.infrabridge.com.
About MUFG and MUFG Americas
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. MUFG has nearly 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be “the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest foreign banking organizations in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.