Compass Power Generation’s $907 Million Financing


Paul Hastings represented Morgan Stanley Senior Funding, Inc. and The Bank of Tokyo-Mitsubishi UFJ, Ltd. as lead arrangers with respect to financing provided to Compass Power Generation L.L.C. and its natural gas-fired power plant portfolio companies.

The financing consisted of a $750,000,000 term loan facility, a $60,000,000 revolving credit facility and a $97,000,000 letter of credit facility, the proceeds of which were used to refinance existing debt, fund capital expenditures and make a dividend. Compass Power, a portfolio company of Starwood Energy Group Global, LLC, specializes in value-add power generation, transmission and storage energy projects.

Leveraged Finance partner John Cobb (Picture) led the Paul Hastings team, which also included of counsels Marisa Sotomayor and Shekhar Kumar and associates Mitchell Zuckerman, Maciej Zielnik and Melanie Sedrish.

Involved fees earner: John Cobb – Paul Hastings; Marisa Sotomayor – Paul Hastings; Shekhar Kumar – Paul Hastings; Mitchell G. Zuckerman – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Bank of Tokyo Mitsubishi UFJ; Morgan Stanley Senior Funding, Inc.;

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Author: Ambrogio Visconti