Invenergy Financing of St. Clair Energy Centre

Invenergy LLC closed the $420-million refinancing of the St. Clair Energy Centre, a 584 MW combined cycle, natural gas-fired energy generation facility in Ontario, Canada.

Royal Bank of Canada (RBC) and Union Bank served as joint book runners for the transaction, with RBC acting as the administrative agent. Natixis, Bayern LB (BLB), and Sumitomo Mitsui Banking Corporation (SMBC), in addition to RBC and Union Bank, were joint lead arrangers for the financing. Royal Bank of Scotland, Siemens Financial Ltd., Nord LB, Helaba, and Mizuho Bank also were lenders to the transaction. The refinancing included entering into long term interest rate swap contracts with RBC, Union Bank, Natixis, BLB, and SMBC as the swap providers.

Invenergy was represented by a team from McCarthy Tétrault LLP under the supervision of Marc Dorion (energy and project financing), led by Richard O'Doherty (energy and project financing), and composed of Ryan Rabinovitch (tax), Heloïse Apestéguy-Reux (financial services), Joanna Rosengarten (environmental), Mendel Trapedo (real estate), Laura Hage (energy and financial services), Steve Furlan (energy and financial services), Bill McCullough (real estate), Lui Kerri (energy and financial services) and Candace Pallone (structured products).

The administrative agent and lenders were represented by Dentons Canada LLP with a team led by Joseph Palin (energy and project financing) and composed of Trevor Morawski (energy, derivatives and project financing), Vivek Bakshi (energy and project financing), Paul Shantz (real estate and environmental law), Jillian Shortt (real estate), Heidi Clark (financial services), Colin Yeo (energy and financial services), Melanie DeSouza (financial services), Jordan Hill (real estate) and Jeffrey Koppele (derivatives).