LS Power/DENA Acquisition
4 May 2006
Ronald M. Bayer, Patricia G. Hammes, Malcolm K. Montgomery, Jeffrey L. Salinger

Shearman & Sterling represented Credit Suisse as administrative agent, documentation agent and first lien/second lien collateral agent and Credit Suisse Securities (USA) LLC as joint lead arranger and syndication agent of a $1.09 billion first lien and $150 million second lien financing and a $500 million special letter of credit facility for LSP GEN Finance Co, LLC. The financing was in connection with the acquisition by LS Power Group of nine natural gas-fired power generation facilities from Duke Energy North America. The sale was announced in January and includes approximately 6,300 megawatts of power generation, located in the western and northeast United States.

LS Power Equity Partners is a member of the LS Power Group. Founded in 1990, the LS Power Group is a fully integrated investor, developer and management team focused exclusively on the power sector.

Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company.

Attorneys included partners Ronald Bayer (NY-FG), Tricia Hammes (NY-FG) and Malcolm Montgomery (NY-PR), counsel Martin Toulouse (NY-FG) and Jeff Salinger (NY-PR/ENV), associates  Paul Balaam  (LO-PR),  Monica Holland (NY-FG), Alex Padres (NY-IP), Mark Schlegel (NY-FG), Rickie Sonpal (NY-FG), Michael Sunwoo (NY-TX) and Vivian Wong (NY-FG), legal assistant Sunita Daswani (NY-FG) and legal specialist Todd Matthias (NY-PR).