Lightstone Generation Lenders Tap Milbank Ahead of 2023 Maturity

Certain lenders to power plant owner Lightstone Generation have selected Milbank to provide advice as they gear up for potential debt talks, according to people with knowledge of the matter.

Lightstone, a joint venture between Blackstone Group and ArcLight Capital Partners, is mulling options including extending its debt via an amendment or an opportunistic exchange, said the people, who asked not to be identified because the matter is private. The company has a revolver due July 2023, followed by roughly $1.7 billion term loan due in January 2024. The loan is currently quoted around 84 cents on the dollar, ...