Daily News: October 12, 2018

KeyBank Provides $65MM Revolver to GridLiance


GridLiance High Plains, an independent transmission company and subsidiary of GridLiance Holdco, closed on a $65 million revolving credit facility with KeyBank.

The revolver will be used to finance the company’s growth, support capital projects and fund general corporate expenses.

“We are pleased to announce the closing of this financing, which provides us with increased financial flexibility and is a sign of the company’s continuing development and strong growth trajectory. This financing will support our growth in new and existing regional transmission markets, as well as current capital projects,” said President and CEO Calvin Crowder.

This year, GridLiance has already announced two transmission asset acquisitions as well as an approximately $40 million capital transmission improvement project in southern Nevada. GridLiance currently owns and operates approximately 600 miles of transmission lines and related substations nationwide.