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Panda Stonewall Seeks Refinancing Deal as Loan Maturity Nears

Sept. 29, 2021, 6:27 PM

Panda Stonewall is gauging investor interest in a refinancing deal with help of Investec Bank, according to people with knowledge of the situation.

The gas-fired power plant is looking to raise a new $450 million term loan and use proceeds to help refinance roughly $470 million of secured debt that comes due in less than two months, said the people, who asked not to be identified because the discussions are private.

Investec is planning to put in roughly $50 million to anchor the deal, and have other investors fill the remaining orders, the people said. Ares Management is planning ...