Shearman & Sterling advised Regions Capital Markets, as a joint lead arranger and a joint bookrunner, and Regions Bank, as the administrative agent and a lender, on 4 unsecured credit facilities, comprising (i) a $300 million revolving credit facility for Cleco Power LLC (“Power”), (ii) a $125 million term loan facility for Power, (iii) a $175 million revolving credit facility for Cleco Corporate Holdings LLC (“Holdings”) and (iv) a $266 million term loan facility for Holdings, in each case for general corporate purposes, including to finance capital expenditures and working capital requirements, and to refinance Power’s and Holdings’ existing facilities.
Cleco Power LLC, a regulated electric utility company, generates, transmits, distributes, and sells electricity. It owned or had an ownership interests in six steam electric generating stations, three combined cycle units, and one gas turbine with a combined capacity of 3,360 megawatts (MW) and a combined electric net generating capacity of 3,186 MW; and owned 89 active transmission substations and 249 active distribution substations. The company’s transmission systems consists of 67 circuit miles of 500-kiloVolt (kV) lines; 561 circuit miles of 230-kV lines; 678 circuit miles of 138 kV lines; and 29 circuit miles of 69-kV lines, as well as a distribution system of 3,405 circuit miles of 34.5-kV lines and 8,747 circuit miles of other lines. It serves approximately 290,000 customers in Louisiana through its retail business; and supplies wholesale power in Louisiana and Mississippi.
The Shearman & Sterling team below included Arshia Asif.