Oaktree-Backed Power Plant Seeks Bids by June, Auction in July

The Boston-area power plant backed by Oaktree Capital Management that went bankrupt last moth will be auctioned on July 13 if there is sufficient interest, according to court papers.

• Footprint Power Salem Harbor Development LP has proposed a bid deadline of June 10 for the 674 megawatt facility, with an auction to follow the next month if necessary
• The company’s bankruptcy plan calls for toggling to a debt-for-equity swap in lieu of a standard sale if needed
• Houlihan Lokey is the investment bank running the deal
• Read More: Oaktree-Backed Power Plant Goes Bankrupt After Construction Spat
• The case is ...