Pattern Energy yieldco to offer $350 million of senior notes
Written By: Stratton Report
January 17, 2017
On January 17, yieldco Pattern Energy Group Inc. announced that it intends to offer $350 million of senior notes due 2024 to qualified institutional buyers via Rule 144A.The notes will be guaranteed on a senior unsecured basis by Pattern US Finance Company LLC.
PEGI emphasized that it will use the net proceeds to fund renewable energy projects, including the acquiring the $215 million Broadview project, and repaying $128 million under its revolving credit facility used to finance the purchase of the Armow project.
Pattern Energy Group Inc. claims a portfolio of 18 wind power facilities, including one it has agreed to acquire, and a total owned interest of 2,644 MW in the United States, Canada and Chile.