NH Investment provides $235 mn financing to US gas power plant
Jun 26, 2018 (Gmt+09:00)
NH Investment & Securities Co. Ltd. has underwritten a $200 million senior debt and a $35 million equity interest for the construction of a natural gas-fired power plant in Ohio, acting as a lead underwriter of the financing package.
Along with Credit Agricole, NH Investment was selected as a lead manager of a $600 million senior debt package for the 1,100 MW South Field Electric Generating Facility, according to investment banking sources on June 24.
It became the first South Korean financial institution to lead a US power plant financing.
The $1.3 billion power project in Wellsville, Ohio is being developed by Advanced Power, a Boston-based energy development company and can provide electricity to around 1 million houses.
It will begin construction in the second half of this year to be operational from 2021.
In early 2017, NH Investment provided $200 million financing for Cricket Valley Energy Center, a 1,100 MW gas-fired power generating facility, in Dover, New York, together with its parent group and an affiliate insurance company.
daepun@hankyung.com
Edited by Yeonhee Kim
Photo: Getty Images Bank
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