GridLiance, a Dallas, TX-based independent electric transmission company, announced that its subsidiary, GridLiance Western Holdings, and transmission company, GridLiance West, closed on two new revolving credit facilities with commitments totaling $185m.
The new five-year $80m revolving credit facility for GridLiance Western Holdings and $105m five-year revolving credit facility at GridLiance West will be used to repay current debt and related transaction costs while creating significant financial capacity and flexibility to support growth objectives.
The lead arranger for the credit facilities was KeyBanc Capital Markets Inc. KeyBank National Association serves as administrative agent, LC issuing bank and collateral agent. Also participating in the facilities are CoBank, ACB and National Cooperative Services Corporation, an affiliate of National Rural Utilities Cooperative Finance Corporation.
Led by Calvin Crowder, president and CEO, GridLiance is an independent electric transmission utility holding company. GridLiance partners with electric cooperatives, public power, and renewable energy developers to plan for the future of the grid, invest in electric infrastructure and implement strategies that meet its partners’ ownership, capital investment, and operational goals.
The company operates hundreds of miles of transmission lines and related substation facilities in Nevada, Missouri, and Oklahoma.
GridLiance has long-term partnerships with utility partners operating in Missouri, Oklahoma, Nevada, Texas, and Kansas.
It is a portfolio company of Blackstone Energy Partners, an affiliate of Blackstone (NYSE: BX), an energy infrastructure investor.