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Basalt closes district energy refi

Jun 23, 2020 - Power, Finance and Risk

Basalt Infrastructure Partners and DCO Energy have refinanced a gas-fired district energy system in the Midwest.

MUFG was sole coordinating lead arranger on an $85 million package for Detroit Thermal, a district energy network comprising three operating gas-fired steam generation facilities and 42 miles of distribution piping in Detroit.

The deal consisted of:$75 million five-year term loan$10 million revolving credit facility

SMBC also participated in the refinancing, which cl...