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Green Evaluation: BIF III Holtwood LLC’s $350 Million Senior Secured Notes, February 12, 2018

BIF III Holtwood LLC (the portfolio) is planning to issue US$350 million of senior secured notes in February 2018. A majority of the proceeds (90% of funds raised) of the offering will be used to refinance existing indebtedness for the portfolio of two hydroelectric facilities (Holtwood and Wallenpaupack) located in Pennsylvania with a combined installed capacity of 296 MW. We expect the remaining proceeds will fund capital expenditure, acquisitions, and development activities at a number of renewable projects within Brookfield Infrastructure Fund III (BIF III). The notes are expected to have a 15-year bullet maturity in 2033.


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