SWIFT CURRENT ENERGY SUCCESSFULLY UPSIZES CREDIT FACILITY TO $312.5 MILLION

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BOSTON and HOUSTON, Jan. 25, 2024 /PRNewswire/ -- Swift Current Energy ("Swift Current") today announced that it has upsized its $225 million revolving credit facility to a total of $312.5 million.

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PR Newswire

Retrieved on:

Thursday, January 25, 2024

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Tags:

Diamond, Entrepreneurship, National Australia Bank, Mitsubishi UFJ Financial Group, Wind, KeyBank, Commerce, Imperial Bank, CIBC, Swift Current, MUFG, First Citizens BancShares, Growth, Renewable energy

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MASSACHUSETTS, TEXAS, ILLINOIS

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SWIFT CURRENT ENERGY

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BOSTON and HOUSTON, Jan. 25, 2024 /PRNewswire/ -- Swift Current Energy ("Swift Current") today announced that it has upsized its $225 million revolving credit facility to a total of $312.5 million.
National Australia Bank, Natixis and First Citizens Bank join existing lenders KeyBank, Mitsubishi UFJ Financial Group (MUFG) and Canadian Imperial Bank of Commerce (CIBC) in supporting Swift Current through this upsized credit facility.
Swift Current has more than 10 gigawatts (GW) of wind, solar and battery energy storage projects in its development pipeline across premium markets.
Eric Lammers, CEO and Co-Founder, Swift Current, said, "Swift Current Energy is trailblazing a path for clean energy.

SWIFT CURRENT ENERGY SUCCESSFULLY UPSIZES CREDIT FACILITY TO $312.5 MILLION

BOSTON and HOUSTON, Jan. 25, 2024 /PRNewswire/ -- Swift Current Energy ("Swift Current") today announced that it has upsized its $225 million revolving credit facility to a total of $312.5 million. The upsized credit facility is a Green Loan, the maturity of which has been extended to 2026. National Australia Bank, Natixis and First Citizens Bank join existing lenders KeyBank, Mitsubishi UFJ Financial Group (MUFG) and Canadian Imperial Bank of Commerce (CIBC) in supporting Swift Current through this upsized credit facility. KeyBanc Capital Markets served as the coordinating lead arranger. National Australia Bank, Natixis, MUFG and CIBC served as joint lead arrangers. CIBC acted as the green structuring agent.

Swift Current has more than 10 gigawatts (GW) of wind, solar and battery energy storage projects in its development pipeline across premium markets. In 2023, Swift Current completed construction financing for over 1,000 megawatts (MWac) of solar projects, including the 593 MWac Double Black Diamond solar project in Illinois, and brought its 197 MWac Castle Gap wind project into commercial operations. Since its founding in 2016, Swift Current has commercialized more than 2.5 GW of clean energy projects.

Eric Lammers, CEO and Co-Founder, Swift Current, said, "Swift Current Energy is trailblazing a path for clean energy. This expanded credit facility will support the sustainable growth of our project pipeline and the execution of our advanced development projects. We're pleased to extend our relationship with KeyBanc, MUFG and CIBC and establish new partnerships with National Australia Bank, Natixis and First Citizens Bank through this upsized credit facility."

Michael Hotchkiss, Managing Director, KeyBanc Capital Markets, said, "We are pleased to continue our relationship with the experienced management team at Swift Current Energy. They continue to be one of the fastest growing renewable IPPs and we are thrilled to serve as coordinating lead arranger and administrative agent for this expanded credit facility to provide capital for Swift Current Energy's development pipeline."

Sidley Austin represented Swift Current in the transaction. Norton Rose Fulbright advised KeyBanc and CIBC.

About Swift Current Energy
Swift Current Energy is investing in renewable energy to create a sustainable future. Founded in 2016, the company develops, constructs, owns and operates highly competitive, utility-scale wind, solar and energy storage projects across the United States. BAES Infrastructure is the majority owner of Swift Current Energy, with the other owners being IFM Net Zero Infrastructure Fund and Lookout Ridge Energy Partners. For more information, please visit swiftcurrentenergy.com.

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SOURCE Swift Current Energy