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Green Evaluation: Cross-Sound Cable LLC's $120 Million Note, Dec. 3, 2018

In August 2015, Argo Infrastructure Partners placed US$120 million of private placement debt to fund a portion of the acquisition of the Cross-Sound Cable project. The undersea cable project transmits power from renewable rich New England into Long Island, N.Y., which has historically faced both gas and electric transmission constraints and has a more carbon-intense electricity grid. The issuance, due in 2032, has a weighted average maturity of about 10 years and was issued at a coupon of 3.79%.

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