March 5, 2019 |
Mexico's Techgen has signed a seven-year, $640m loan to pay off project finance debt from 2014, according to sources close to the deal.
Citi, Crédit Agricole, HSBC and Natixis led the deal as bookrunners and brought in BNP Paribas, Intesa Sanpaolo, Norinchukin Bank and Santander as other lenders. Natixis doubled up as the administrative agent.
The new loan priced at 170bp over Libor. Techgen will use the money to pay off a five-year, $800m loan it got in September 2014 for the Pesquería power
Mexican power plant borrows $640m to pay off project finance debt from 2014, sources say