White & Case advises Lightning Power on US$1.75 billion term loan transaction

Global law firm White & Case LLP has advised Lightning Power on the successful repricing of its existing US$1.75 billion term loan credit facility. This transaction is expected to close in February 2025 and to result in interest expense savings of approximately US$17.5 million annually.

Lightning Power’s portfolio is composed of 18 natural gas-fired power projects owned by LS Power, strategically assembled to create a large-scale, diversified, pure-play natural gas independent power producer to meet the growing power needs of the US economy. Since its inception in 1990, LS Power has developed, constructed, managed and acquired more than 47,000 MWs of utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired power generation, including baseload combined-cycle facilities and flexible combustion turbine peakers.

The White & Case team was led by partners Yehuda Rubel, Justin Wagstaff and Andrew Weisberg, and included Debt Finance associate Ryan Talbott (all in New York). Law clerks Gabrielle Foster and Mwangala Simataa also assisted on the matter.

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