January 18, 2017
Americas

Pattern targets $350m warchest; Bond issue to help fund 324MW Broadview and 180MW Armow projects

reNEWS | 17/01/2017 | renews.biz

US developer Pattern Energy aims to raise up to $350m through a bond issue to fund a series of wind farm developments.

The company is proposing to issue senior notes due in 2024 to institutional investors, it said.

Pattern intends to use the net proceeds to fund wind as well as solar energy plants.

It will use about $215m to partially fund its acquisition of the 324MW Broadview wind farm in New Mexico and about $128m to repay a credit facility used to buy the 180MW Armow project in Ontario.

Pattern Energy has a portfolio of 18 wind farms in the US, Canada and Chile with a total capacity of 2.6GW.

URL to article:  https://www.wind-watch.org/news/2017/01/18/pattern-targets-350m-warchest-bond-issue-to-help-fund-324mw-broadview-and-180mw-armow-projects/