WestLB’s Global Energy Group successfully closes USD 298.5 million Senior Secured Credit Facilities for White Energy
WestLB’s Global Energy Group successfully closed USD 298.5 million Senior Secured Credit Facilities for Dallas based White Energy Holding Company, LLC (White Energy). WestLB acted as Lead Arranger, Sole Book-runner and Administrative Agent in this successful transaction. The proceeds were used to refinance an existing USD 173.5 million credit facility, arranged by WestLB in August for the acquisition of a two plant portfolio. In addition, this credit facility will enable White Energy to fund the acquisition and construction of an additional 100 million gallon per year (MMGPY) Greenfield, fuel grade ethanol facility in Plainview, Texas. Upon completion of the plant’s construction, White Energy will be the fourth largest ethanol producer in the United States, based on plants in operation and currently under construction. The plant is scheduled to begin construction this month and be fully operational by first half of 2008.
WestLB is a leader in biofuel financings, with over USD 1 billion dollars in fully syndicated transactions completed in the US during 2006 and additional deals in the pipeline. WestLB is committed to the renewable energy sector and is pleased to be working with White Energy once again. WestLB understands that clients are looking for well structured deals and the ability to meet their timelines for executing their transactions. WestLB considers White Energy to be an exceptional partner in growth.
WestLB’s Global Energy team is also active across the energy spectrum in wind and hydro power generation, large power generation asset acquisitions, upstream oil and gas financings, natural gas pipelines as well as storage and transmission line financings.