Allegheny Energy Announces $550 Million Financing for Transmission Projects
Trans-Allegheny Interstate Line Company (TrAILCo) closed on a $550 million senior secured credit facility with a seven-year maturity. The facility includes a $530 million term loan and a $20 million revolving facility, both with an initial borrowing rate equal to the London Interbank Offered Rate (LIBOR) plus 1.875 percent.
TrAILCo intends to use the credit facilities for construction and operation of the 500-kV Trans-Allegheny Interstate Line (TrAIL) transmission line project, and other transmission-related facilities and activities.
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