Avangrid’s $4 Billion Revolving Credit Facility

Simpson Thacher represented the lenders and Mizuho Bank, Ltd., as administrative agent on the deal.

Mizuho Bank and the lenders as administrative agent, annoucedn with Avangrid, a $4 billion “sustainability linked” revolving credit facility.

Avangrid is a leading sustainable energy company with approximately $39 billion in assets and operations in 24 U.S. states. Avangrid has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States.

The Simpson Thacher team for this transaction included Mike Vernace (Picture) (Banking & Credit).

Involved fees earner: Michael Vernace – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Mizuho Bank;

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Author: Youness Semri