Baker Botts Represents Cleco Power LLC in $300.0 Million Revolving Credit Facility and $125.0 Million Term Loan Facility
On May 17, 2024, Cleco Power LLC (“Cleco Power”) entered into a new $125.0 million term loan agreement (the “Term Loan Facility”) and a new revolving credit facility under which it can, subject to the terms and conditions therein, borrow up to $300.0 million (the “Revolving Facility”, and together with the Term Loan Facility, the “Facilities”). The Term Loan Facility replaces Cleco Power’s existing term loan agreement and has a maturity date of May 17, 2029. The Revolving Facility replaces Cleco Power’s existing revolving credit agreement and has a maturity date of May 17, 2029.
Regions Capital Markets, JPMorgan Chase Bank, N.A., Sumitomo Mitsui Banking Corporation and CoBank, ACB acted as joint lead arrangers and joint bookrunners for the Facilities. Regions Bank serves as administrative agent under the Facilities.
Baker Botts represented Cleco Power in the transactions.
Cleco Power is a regulated electric utility company that serves approximately 295,000 customers in 24 of Louisiana’s parishes through its retail business and supplies wholesale power in Louisiana and Mississippi.
Baker Botts Lawyers/Office Involved:
Corporate: Timothy Taylor (Partner, Houston); Jamie Yarbrough (Partner, Houston).
Finance: Clint Culpepper (Partner, Austin); Dela Peimani (Senior Associate, Austin); Morgan Copher (Associate, Dallas).
Tax: Jon Lobb (Partner, Houston); Jordan Hahn (Senior Associate, Dallas).
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.
