Hastings Represents Morgan Stanley, Barclays in Acquisition Financing
Paul Hastings represented Morgan Stanley Senior Funding and Barclays Bank PLC as lead arrangers on the financing for the acquisition of certain undivided ownership interests in the 1,711 MW Keystone and the 1,711 MW Conemaugh coal-fired generating facilities in Western Pennsylvania by the subsidiaries of Chief Power Finance, a company formed by ArcLight Energy Capital Partners Fund V.
The financing consisted of a $351 million term facility and $40 million revolving facility.
Leveraged finance partner John Cobb led the Paul Hastings team, which included of counsel Benjamin Cheng, and associates Julie Park and Cecilia Wang. Energy regulatory partner William DeGrandis and associate Stephen Snyder and real estate partner Bradley Ritter and associates Jessica Simons and David Stanek, Environmental partner Thomas Mounteer and associate Jeff Allmon, and tax partner Andrew Short and associate Grace Sur also advised on the deal.