| Whitehall & Company provides M&A and
corporate advisory services, capital
structuring and placement
October 9, 2014
Whitehall Closes $3 Billion Institutional Project Finance Program
Whitehall & Company LLC together with its subsidiary Whitehall Capital Markets LLC, member FINRA/SIPC (“Whitehall”) an established investment banking boutique known for its expertise in the energy sector, today announced that it has successfully closed a $3 Billion Whitehall Capital Markets LLC Institutional Project Finance Program debt funding vehicle.
“We are very happy to have closed this vehicle with a terrific group of first class institutional investors,” said Timothy Page, Whitehall Managing Partner & Head of Capital Markets. “We are grateful for the loyalty, trust and support provided by each of our investors which is underscored by the level of participation in Whitehall’s first undertaking of this kind. This tremendous result is a testament to the focus, determination, and successful results demonstrated since our inception.” The debt-funding vehicle will focus on energy and infrastructure assets. Investors include a group of pension funds, insurance companies, and investment managers, including: AIG, Northwestern Mutual Life, TIAA-CREF, among others.
“Our professionals have deep relationships built on an more than 20-years of experience on average,” added Jonathan Cody, Managing Partner & Head of Investment Banking. “This vehicle provides another important mechanism for our clients to access efficient debt capital. We look forward to continuing long successful relationships with each of our issuer clients and investor clients.”
Chadbourne & Parke LLP served as legal advisor.
To discuss any deal opportunities, please contact:
Jonathan Cody, Managing Partner (212) 205-1390
Timothy Page, Managing Partner (212) 205-1399
Founded in 2010, Whitehall specializes in M&A, Advisory, Debt Placement, and Equity Placement. Whitehall is represented by a dozen professionals located in New York and Houston with a combined average industry experience of over 20-years. Since inception Whitehall has closed transactions representing more than $4bn in capital funding requirements, primarily across the energy sector. For more information visit www.whitehallandcompany.com.
Source: Whitehall & Company LLC
July 21, 2014
NTE Energy, a power developer and energy services provider, has secured an equity investment from Capital Dynamics and an entity affiliated with Guggenheim Partners for a trio of natural gas-fired power projects. Whitehall Capital Markets, LLC, a FINRA-registered broker dealer and wholly-owned subsidiary of Whitehall & Co., served as the financial advisor for the project equity financing. The investment will allow NTE Energy to complete the development of these projects, which are valued at more than $1.1 billion, and begin construction of all three projects next year. Capital Dynamics and Wattage Finance, LLC, which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners, will work with NTE Energy to finalize the development and prepare the three projects for construction financing. The development portfolio comprises Middletown Energy Center, a 518 MW combined cycle project in Ohio, Kings Mountain Energy Center, a 475 MW combined cycle project in North Carolina, and Pecan Creek Energy Center, a 237 MW simple cycle project in Texas. NTE Energy’s three power projects are in the late stages of development and are expected to close financing and go into construction in the next nine to 12 months.
June 16, 2014
NM Neptune, LLC, an indirect wholly owned subsidiary of Northwestern Mutual, has acquired Starwood Energy's 25 percent Class C stake in the Neptune Regional Transmission System, LLC, which owns a 660 MW high-voltage direct current (HVDC) submarine transmission line linking New Jersey and Long Island, N.Y. Starwood retained Whitehall & Co. earlier this year to run a sale of its stake in Neptune. Financial terms were not disclosed. The stake represents a 16.05% economic interest and includes certain super-majority control rights.
April 4, 2014
TIAA-CREF has acquired a 35% stake in a 1 GW CCGT project in New York state from Advanced Power. Today, Advanced Power announced that it has sold most of its 40% stake in the Cricket Valley Energy (CVE) project to TIAA-CREF. Other shareholders in the project are thought to include GE Energy Financial Services (40%) and Marubeni (20%). Last summer, Whitehall Capital Markets, an affiliate of Whitehall & Co., was retained by Advanced Power to advise on raising equity for its 40% interest on CVE, which is located in New York ISO Zone G.
January 8, 2014
Astoria Project Partners LLC, the sole owner of the 550 MW natural gas-fired Astoria Energy power plant located in Queens, N.Y., has closed a $100 million refinancing of holding company-level debt. AMP Capital’s Institutional Debt Fund I and II provided the subordinated credit facility. Whitehall & Co., financial advisor to Astoria Project Partners, launched the refinancing in the summer, as first reported by SparkSpread on June 28.
July 29, 2013
Milestone Aviation Group, the global leader in helicopter leasing, announced that it has closed a new US$300 million credit facility. The company will use the proceeds to acquire and lease helicopters valued at US$400 million to affiliates of Bristow Group Inc. The assets include Sikorsky S-92’s, Eurocopter EC225’s and AgustaWestland AW189 and AW139 aircraft. The Milestone facility is the largest-ever for a helicopter lessor. Lloyds Bank acting through its Corporate Asset Finance division was Mandated Lead Arranger and Facility Agent while Lombard, the dedicated asset finance arm of The Royal Bank of Scotland Group, and Barclays Bank served as Original Lenders for the credit facility. Whitehall & Company acted as Financial Advisor to Bristow Group Inc.