Shearman & Sterling advised BNP Paribas as syndication coordinator in connection with the US$1.2 billion financing for LS Power’s asset acquisition of approximately 2,430 MW of generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power, LLC, from Calpine Corporation.
The financings included three separate credit facilities:
The Shearman & Sterling team included partner Patricia G. Hammes (New York-Project Development & Finance) and associates Monica Lamb (New York-Project Development & Finance), Bejide Davis (New York-Corporate) and Joshua Rivera (New York-Project Development & Finance).
In late April we reported that LS Power Equity Advisors, LLC, announced on 21 April 2014, that it had signed an agreement to acquire approximately 3,500 MW of generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power from Calpine Corporation. At that time the portfolio consisted of six combined-cycle generation facilities which use natural gas as the primary fuel source. The Calpine facilities included the following: