Milbank LLP represented Caledonia Generating, LLC (“Caledonia”), as issuer, in connection with the offering of its $225,150,000 1.950% Senior Secured Notes due 2034 (the “notes”).
The notes are supported by a first priority lien on all of the equity interests of Caledonia and by a mortgage of Caledonia’s interest in the combined cycle power plant with a nameplate capacity of approximately 801 megawatts located in Lowndes County near Caledonia, Mississippi (the “Facility”). The Facility is leased to, and operated by, the Tennessee Valley Authority.
The Milbank Global Capital Markets team was led by partner Jonathon Jackson and included associates Pablo Richards and Sandhya Ramaswamy. The Milbank Global Project, Energy and Infrastructure Finance team was led by partners William Bice and Jeff Leider and included associates Katherine Hannah and Alyssa Julian. Also providing advice on various points in the transaction were Tax partner Andrew Walker and associate Benjamin Heller, Executive Compensation and Employee Benefits partner Joel Krasnow, Real Estate associate Lisa Brabant, Alternative Investments partners Sean Solis and Catherine Leef Martin, special counsel Jon Burke and associate Megha Kalbag.
