Avangrid’s $500 Million Term Loan Agreement

Simpson Thacher represented the lenders and Mizuho Bank, Ltd., as administrative agent, in connection with Avangrid term loan agreement.

Avantgrid entered into a $500,000,000 term loan agreement with certain lenders, Mizuho Bank, Ltd. and The Bank of Nova Scotia, and Mizuho Bank, Ltd., as administrative agent.

Avangrid, Inc. is a leading, sustainable energy company with approximately $34 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, Avangrid has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving 3.2 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 James Cross (Picture), Mike Vernace and Brittani Frink (Credit).

Involved fees earner: James Cross – Simpson Thacher & Bartlett; Brittani Frink – Simpson Thacher & Bartlett; Michael Vernace – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Mizuho Bank; The Bank of Nova Scotia;

Author: Ambrogio Visconti