WestLB Closes USD 173 million Senior Secured Debt Facility for White Energy
WestLB’s Global Energy Group successfully closed a USD 173 million senior secured debt facility for White Energy Holding Company LLC. WestLB acted as lead arranger and sole bookrunner. The senior secured facility will support the acquisition of a 45 million gallon per year (MGPY) ethanol plant in Kansas and the construction of a 100 mgpy ethanol plant in Texas. Upon completion, White Energy will produce 145 million mgpy, placing it among the top 10 ethanol producers in the United States. WestLB has already closed two high profile deals, one of which was the largest Greenfield ethanol financing to-date in the U.S.
WestLB continues to be bullish on the ethanol market and sees plant development accelerating in the near future. In total, WestLB has been mandated on over USD 1.2 billion and successfully syndicated USD 650 million of ethanol financings. With the ethanol industry booming, WestLB New York has become one of the premier banks that producers and investors turn to for advising, structuring and syndicating ethanol deals.