Renewable Energy Trust Capital announced the closing of financing to support its recently acquired 102 MW operating Coram Wind Project from BAIF U.S. Renewable Power Holdings. The project, located in Kern County, CA, benefits from long-term contracted revenues through a power purchase agreement with Pacific Gas & Electric to provide clean, reliable and affordable electricity to the utility and its customers.

RET Capital secured $239 million in a hybrid debt financing consisting of a $134.7 million term loan and letter of credit facility and $103.9 million of investment grade rated fixed rate notes.

MUFG was the coordinating lead arranger and bookrunner for the credit facilities, which were syndicated to Associated Bank, DZ Bank and Zions Bank. Mitsubishi UFJ Securities (USA) was the sole placement agent and bookrunner for the fixed notes, which were placed with AIG Asset Management and Teachers Insurance and Annuity Association of America.

“RET Capital is pleased to extend our financing footprint into the wind sector. Not only did we have a successful financial close with reputable financing partners, we also bolstered relationships with MUFG and the entire lending group. We look forward to many future successes in wind power,” said John A. Bohn, CEO and chairman of RET Capital.

“MUFG is dedicated to offering our clients the full range of services they need to expand their business and we are delighted to have supported RET Capital on this acquisition,” said Jonathan Lindenberg, managing director and head of Structured Finance for the Americas at MUFG.