Milbank LLP advised the lenders in connection with the financing of the acquisition by KKR and the Public Sector Pension Investment Board (PSP Investments) of a 19.9% interest in American Electric Power’s Ohio and Indiana & Michigan transmission companies for $2.82 billion.
“As demand for reliable, modernized energy infrastructure continues to rise, transactions like this reflect the urgent need for renewed investment in the US power grid,” said Dan Bartfeld, chair of Milbank’s Global Project, Energy and Infrastructure Finance group. “We’re proud to support our clients as they help finance the next generation of critical transmission assets.”
“This transaction also underscores the strength of the sector and the essential role of lender-backed capital in advancing long-term grid resilience,” added Global Project, Energy and Infrastructure Finance partner Sean C. O’Neill.
The Milbank team was led by Mr. Bartfeld and Mr. O’Neill with special counsel Séverine Losembe and associates Alfredo Palasciano and Anna Denton.
Milbank is one of the most active law firms advising on complex, high-value transactions in the energy and infrastructure space. In the past 12 months, Milbank has had the lead role in over 150 energy transition transactions that are reshaping the future of the US power grid amid rising demand for resilient and sustainable energy solutions.
