Milbank LLP represented Apterra Infrastructure Capital LLC, as sole bookrunner and syndication agent, and the lenders, in connection with a $500 million senior secured credit facility to OPAL Fuels Inc. (Nasdaq: OPAL) a vertically integrated producer and distributor of renewable natural gas (RNG) and renewable energy. The credit facility consolidates certain existing indebtedness and provides approximately $300 million to be used principally for the development and construction of additional RNG and renewable energy projects. Apterra, a subsidiary of Apollo Global Management, is a premier platform specializing in innovative financing solutions for infrastructure projects.
The Milbank team was led by Global Project, Energy and Infrastructure partner Daniel J. Michalchuk, along with partner Dan Bartfeld, special counsel Rhys Howard and associates Julia Zenker and team members Beryl Yan and O’Neill Kennedy. Mr. Michalchuk said, “the Opal transaction is a perfect example of how the energy transition is causing new industries such as renewable natural gas to be fully viable for bank financings in the energy and infrastructure space. We are pleased to have assisted Apterra and the lenders on this important transaction.”
