Panamint Completes First Phase Financing With Lloyds, MUFG, SMBC for Renewable Energy Project in Texas

MT Newswires Live11-04

Panamint Capital, minority-owned by KKR's (KKR) subsidiary Global Atlantic Financial, has reached financial close on the first phase of a $1.8 billion green loan to back construction of Big Rooter Power solar project, Texas.

Lloyds (LYG), Mitsubishi UFJ (MUFG), and SMBC are mandated as coordinating lead arrangers, Panamint said. Sumitomo Mitsui Financial (SMFG) is the holding company of SMBC.

Proceeds from the $769 million first phase of the loan will support ongoing construction of the Big Rooter West portion of the project, Panamint said Wednesday.

The over $1 billion second portion of the loan will back construction of Big Rooter East, the project's second phase, Panamint added.

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