Financing ·
CPV Generation secures $825M financing for Shore and Maryland power plants
KENKenon Holdings Ltd.
CPV Generation Holdings LLC, an indirect subsidiary of Kenon Holdings Ltd., entered into a non-recourse $825 million Financing Agreement with a syndicate of lenders. The proceeds are expected to repay existing project financing and fund a dividend distribution of approximately $130 million at closing. The facility includes a $625 million term loan B, a $125 million letter of credit facility, and a $75 million revolving credit facility. The term loan matures seven years after closing and carries interest at SOFR plus 2.5%. Kenon Holdings Ltd. operates in the energy sector, owning and operating power generation assets.