Debt Capital Markets
Senior Secured Credit Facilities
|Client & Transactional Partners||
Invenergy Renewables Global, LLC
On December 16, 2021, KeyBanc Capital Markets (KBCM) successfully closed $429 million of Senior Secured Credit Facilities (the Facilities) for Invenergy Renewables Global, LLC’s Sapphire Sky Project (Sapphire Sky or the Project). The Facilities consist of a $404 million Construction Loan Facility, and $25 million Letter of Credit Facility. Proceeds will be used to fund construction costs for the Project. KBCM acted as Lead Arranger, Issuing Bank, and Administrative Agent.
The Project will be built over a 11 month period by White Construction in McLean County, Illinois. Sapphire Sky will consist of 42 Vestas V150-4.3 and 22 Vestas V136.6 wind turbines totaling 259.8 megawatts of alternating current generating capacity. Upon completion of the Project, an affiliate of WEC Energy Group, one of the U.S.'s largest Investor Owned Utilities and a key relationship for KBCM, will acquire 90% of the equity interests in the Project. Invenergy will retain the remaining 10% equity interest.