Content area
Full Text
Conestoga Energy Partners has closed a $113 million debt financing with WestLB and Merrill Lynch for a Kansas-based ethanol plant. The plant, located in Liberal, Kansas, has a proposed capacity of 100 million gallons per year, and a cost of $200 million. The debt, which signed on 13 December, consisted of a $97 million term loan and $16 million working capital facility. Conestoga is also providing $97 million in equity to the project company, known as Arkalon Energy. The financing closed on 13 December, the advisers to the sponsors on the financing were Silveron Capital Partners (financial) and Chadbourne & Parke (legal), while Milbank Tweed advised the lenders.