Loan Syndications and Trading Association

Strata Clean Energy Secures a $300 Million Revolving Credit Facility to Support Expansion of Vertically Integrated Clean Energy Platform

Retrieved on:

Monday, November 6, 2023

Strata Clean Energy (“Strata” or the “Company”) announced the closing of a $300 million new revolving loan and letter of credit facility to expand Strata’s operational fleet and accelerate the commercialization of its diversified 17+ GW development pipeline.

Key Points:

Strata Clean Energy (“Strata” or the “Company”) announced the closing of a $300 million new revolving loan and letter of credit facility to expand Strata’s operational fleet and accelerate the commercialization of its diversified 17+ GW development pipeline.
Notably, this loan adheres to a Green Financing Framework in accordance with the 2023 Loan Syndications and Trading Association (“LSTA”) Green Loan Principles, demonstrating Strata’s steadfast commitment to environmental responsibility.
The proceeds of the loan will support the development, construction, and operation of Strata’s upcoming renewable energy, energy storage, and Power to X projects.
"This facility strengthens Strata’s liquidity position and enables us to drive forward with groundbreaking and economically viable renewable initiatives in markets nationwide,” said Alice Heathcote, CFO of Strata Clean Energy.

Gibson, Dunn & Crutcher LLP Files Opening Brief in Lawsuit Against the SEC to Vacate the Private Fund Adviser Rule

Retrieved on:

Thursday, November 2, 2023

Unlike retail investment products open to all investors, private funds are only available to experienced, sophisticated investors.

Key Points:

Unlike retail investment products open to all investors, private funds are only available to experienced, sophisticated investors.
As the brief explains:
This case concerns “private funds”—pooled investment vehicles that are not offered to the public.
Unlike more familiar pooled investment vehicles, like mutual funds, private funds are generally not accessible to non-professional investors (known as retail customers).
The brief also argues that the SEC did not give adequate reasons for the rule.

EQS-News: HOWOGE Wohnungsbaugesellschaft mit beschränkter Haftung: HOWOGE publishes Social Finance Framework

Retrieved on:

Monday, July 17, 2023

Trade association, MBH, Party, International Capital Market Association, Loan Market Association, AMERICA, Social finance, Paper, Loan Syndications and Trading Association, ISS, Bank

HOWOGE Wohnungsbaugesellschaft mit beschränkter Haftung: HOWOGE publishes Social Finance Framework

Key Points:

HOWOGE Wohnungsbaugesellschaft mit beschränkter Haftung: HOWOGE publishes Social Finance Framework
The issuer is solely responsible for the content of this announcement.
The municipal HOWOGE Wohnungsbaugesellschaft mbH has published a Social Finance Framework for the first time.
This framework for social financing instruments has been confirmed in a Second Party Opinion by ISS ESG.
As Katharina Greis, HOWOGE managing director, explains, “The Social Finance Framework is an important step towards ensuring a diversified and sustainable financing structure.

Eolian Announces Closing Of $515 Million Green Loan

Retrieved on:

Tuesday, June 6, 2023

Loan Syndications and Trading Association, Investment banking, SMBC, National Australia Bank, LSTA, Banco Santander, MUFG, APLMA, Loan Market Association, Global Infrastructure Partners, Special Loan Program for China-Latin America Infrastructure Project, GIP, Natixis, LMA, Bank, Renewable energy

BURLINGAME, Calif., June 6, 2023 /PRNewswire/ -- Eolian, L.P. ("Eolian"), a portfolio company of Global Infrastructure Partners ("GIP"), together with Banco Santander, MUFG, National Australia Bank, Natixis Corporate & Investment Banking, and SMBC, today announced the closing of a $515 million renewable energy green loan.

Key Points:

BURLINGAME, Calif., June 6, 2023 /PRNewswire/ -- Eolian, L.P. ("Eolian"), a portfolio company of Global Infrastructure Partners ("GIP"), together with Banco Santander, MUFG, National Australia Bank, Natixis Corporate & Investment Banking, and SMBC, today announced the closing of a $515 million renewable energy green loan.
This financing is secured by a diverse group of eligible green projects developed by Eolian over the past 20 years and is aligned with the four pillars of the Green Loan Principles, jointly published by the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) in February 2023.
"The closing of this long-term financing with a club of five premier global lenders validates the broad appeal of Eolian as a sponsor and of its uniquely diversified and compelling clean energy portfolio," said Eolian CEO Aaron Zubaty.
Natixis is very pleased to have acted as the Green Loan Coordinator on this transaction, which recognizes the vital clean infrastructure development and investment work undertaken by Eolian."

LyondellBasell Introduces Green Financing Framework to Help Further Sustainability Goals

Retrieved on:

Monday, May 8, 2023

S&P Global, LyondellBasell, GHG, Loan Market Association, Sale, ICMA, Renewable energy, Investment, International Capital Market Association, Loan Syndications and Trading Association, NYSE

HOUSTON, May 8, 2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced it has published its inaugural green financing framework to help advance its long-term sustainability goals.

Key Points:

HOUSTON, May 8, 2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced it has published its inaugural green financing framework to help advance its long-term sustainability goals.
"Our green financing framework reflects the decisive steps we are taking to allocate capital toward initiatives aligned with our sustainability strategy," said Peter Vanacker, LyondellBasell CEO.
Under the framework, net proceeds from green finance instruments will go toward new and existing investments in eligible green projects in the following ICMA categories: circular economy, renewable energy, pollution prevention and control, and energy efficiency.
S&P Global has reviewed the framework and provided a second-party opinion confirming the framework aligns with the 2021 Green Bond Principles and 2023 Green Loan Principles.

KBRA Releases Recap of 2nd Annual Private Credit Industry Conference on Direct Lending and Middle Market Finance

Retrieved on:

Tuesday, May 2, 2023

Professional Services, Finance, Loan Syndications and Trading Association, PIK, LSTA, KBRA, Silicon Valley Bank, BSL, SVB, Growth, ESG, Conference, Bank

KBRA releases a recap of the 2nd Annual Private Credit Industry Conference on Direct Lending and Middle Market Finance, hosted by the Loan Syndications and Trading Association (LSTA) and DealCatalyst, and held in Fort Lauderdale, Florida, on April 27-28.

Key Points:

KBRA releases a recap of the 2nd Annual Private Credit Industry Conference on Direct Lending and Middle Market Finance, hosted by the Loan Syndications and Trading Association (LSTA) and DealCatalyst, and held in Fort Lauderdale, Florida, on April 27-28.
First, higher rates will result in greater credit stresses in manager portfolios in 2H 2023, keeping managers, sponsors, and borrowers busy.
Conversely, the level of debt and leverage in the private credit market is an unlikely source of broader financial risk in the future.
Middle market leverage tends to be relatively low, especially in relation to leverage levels in the broadly syndicated loan (BSL) market.

Customers Bank Introduces Loan Syndications Banking Solutions

Retrieved on:

Thursday, February 16, 2023

Banking, Professional Services, Finance, Customers Bancorp, Loan Syndications and Trading Association, Customer, Fifth Third Bank, NYSE, Growth, Health, Silberman, Bank, Financial services

Customers Bank, a digital and fintech-forward super-community bank with a growing number of operations across the nation and the bank subsidiary of Customers Bancorp, Inc. (NYSE:CUBI), announced the launch of a new Loan Syndications Banking Team, expanding the bank’s lending services for middle market businesses and lead deals to support the bank’s existing and future national lines of business.

Key Points:

Customers Bank, a digital and fintech-forward super-community bank with a growing number of operations across the nation and the bank subsidiary of Customers Bancorp, Inc. (NYSE:CUBI), announced the launch of a new Loan Syndications Banking Team, expanding the bank’s lending services for middle market businesses and lead deals to support the bank’s existing and future national lines of business.
The team offers customized syndication banking solutions and loan syndication process management.
Previously, Silberman was head of syndications at Amerant Bank and held senior-level positions at CIBC US and Fifth Third Bank within their syndications groups.
To learn more about Customers Bank, its products and services, or the Loan Syndications Banking Team, visit www.customersbank.com .

LSTA Elects New Board Members

Retrieved on:

Friday, January 27, 2023

Professional Services, Finance, Minter, Chair, Loan Syndications and Trading Association, PNC, Goldman Sachs, RBC, CSAM, LSTA, Morgan Stanley, Growth, RTÉ Executive Board, Invesco, MD, Industrial design, Management, VOYA

The Loan Syndications and Trading Association (“LSTA”), the trade association for the corporate loan market in the United States, today announced the election of five new members to its Board of Directors, for two-year terms.

Key Points:

The Loan Syndications and Trading Association (“LSTA”), the trade association for the corporate loan market in the United States, today announced the election of five new members to its Board of Directors, for two-year terms.
Re-elected Co-Chairs of the Board for the 2023 term are:
Other elected members of the executive committee of the Board are:
Vice Chair and Secretary Scott Baskind, Invesco
Vice Chairs and members at large: Rachel Russell, Morgan Stanley
“The contributions of LSTA Board members play a vital role in fulfilling our mission of a fair, orderly, and efficient corporate loan market,” said Lee Shaiman, executive director of the LSTA.
“Board members’ time and expertise are critically important to the evolution and growth of the market.
And on behalf of myself and the senior staff at the LSTA I also want to thank our outgoing board members, whose service has been exemplary.”
Departing Board members whose terms have ended are Judith Fishlow Minter, RBC; Jeff Bakalar, Voya; Andrew Sveen, Eaton Vance; John Popp, CSAM; and Alex Spiro, PNC.

Clean Energy Announces Sustainability-Linked Financing with Riverstone Credit Partners to Fund RNG Growth

Retrieved on:

Wednesday, December 28, 2022

Clean Energy Fuels Corp. (Nasdaq: CLNE), the largest provider of the cleanest fuel for the transportation market, today announced that it entered into a four-year $150 million sustainability-linked senior secured term loan with Riverstone Credit Partners L.P. (“Riverstone Credit Partners”), a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”).

Key Points:

Clean Energy Fuels Corp. (Nasdaq: CLNE), the largest provider of the cleanest fuel for the transportation market, today announced that it entered into a four-year $150 million sustainability-linked senior secured term loan with Riverstone Credit Partners L.P. (“Riverstone Credit Partners”), a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”).
This financing provides Clean Energy with additional capital to execute its renewable natural gas (RNG) growth strategy as demand for RNG fuel rapidly rises.
Clean Energy’s growth strategy includes the development of negative carbon intensity RNG projects and construction of new RNG fueling stations for transportation sector customers.
We are thrilled to partner with them on their quest to deliver fully zero-carbon RNG by 2025,” said Daniel Flannery, Managing Director at Riverstone.

ICSWG-US Votes to Support the ESG Integrated Disclosure Project

Retrieved on:

Monday, December 12, 2022

Professional Services, Environment, Sustainability, Finance, Asset Management, Consulting, Loan Syndications and Trading Association, ISSB, ESG, Sustainability Accounting Standards Board, LSTA, Disclosure, Consultant, Government, EDCI

The Investment Consultants Sustainability Working Group - United States (ICSWG-US) announced today that the groups steering committee has voted to support the ESG Integrated Disclosure Project (ESG IDP) with the objective of improving prospective credit borrowers data disclosure and reporting on standardized, decision-useful, environmental, sustainability and governance (ESG) metrics.

Key Points:

The Investment Consultants Sustainability Working Group - United States (ICSWG-US) announced today that the groups steering committee has voted to support the ESG Integrated Disclosure Project (ESG IDP) with the objective of improving prospective credit borrowers data disclosure and reporting on standardized, decision-useful, environmental, sustainability and governance (ESG) metrics.
In November 2022, the ESG IDP launched a harmonizing ESG reporting tool for credit markets.
The template is intended to support investor needs for more quantitative and more comparable, decision-useful data, in the absence of government regulated disclosure.
As investment consultants, we support having a widely agreed upon template that can help harmonize ESG reporting for credit markets.