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Alliant Energy Generation is seeking bids on non-recourse financing for its $109 million acquisition of a 309 MW plant in Neenah, Wis. Mark Condon, cfo at the Oakbrook Terrace, Ill. non-regulated generation arm of Alliant Energy Resources, says around 10 banks have been approached and the company is expecting responses by Friday. The plant is being acquired from Mirant in a deal set to close in the fourth quarter (PFR, 7/22).

American Electric Power has landed Dexia Crédit Local and Royal Bank of Canada for senior slots on its approximately $120 million non-recourse deal funding its Desert Sky wind facility near Stockton, Texas. The two join lead Fortis Capital, which bagged the mandate in July (PFR, 7/14). One banker says another senior slot may be added before the deal heads into syndication. Calls to Dexia, RBC, Fortis and AEP were not returned by press time. Details of pricing and maturity could not be ascertained.

Bonds Issue Date Maturity Issuer Amount Offer Price Type of Security Coupon (%) Spread To Treasury Moody's S&P Bookrunner(s) 8/22/02 9/1/09 Constellation Energy 500 99.841 Notes 6.125 234 Baa1 BBB+ SSB/Lehman 8/22/02 9/1/12 Kinder Morgan 750 99.716 Notes 6.5 223 Baa2 BBB JPM/SSB/Wachovia 8/22/02 8/29/12 Northern States Power 450 100 Notes 8 375 A2 BBB+ Lehman 8/23/02 3/5/04 RWE 41.7 100 Fxd/Straight Bd 0.23 - A1 AA- SSB 8/26/02 8/29/12 CMP Group 15 100 MTNs 5.7 149 A3 BBB+ JP Morgan 8/26/02 8/26/07 Italenergia 806.8 100 Subord Bonds 4.7 - NR NR Unimob/Bimob 8/27/02 9/1/07 Oncor Electric Delivery 200 99.602 Fst Mtg Bonds 5 175 Baa1 BBB+ Barclays 8/27/02 9/1/22 Oncor Electric Delivery 800 99.659 Fst Mtg Bonds 7 197 Baa1 BBB+ Barclays M&A Date Announced Date Effective Target Name Target Advisors Target Country Acquiror Acquiror Advisors Acquiror Country Value ($mil) 8/23/02 - Oceanenergia - Portugal Electricidade de Portugal - Portugal - 8/26/02 8/26/02 Armenian Electricity Grid - Armenia Midland Resources - U.K. 37 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Moscow utility Mosenergo last month tapped the European Bank for Reconstruction and Development (EBRD) for a EUR70 million five-year loan to help the utility to redeem the $110 million outstanding on a Eurobond that matures in October. Some of the proceeds will also be used for an ongoing capital expenditure program, says a Moscow based analyst. Calls to Tony Marsh, head of utilities at the EBRD in London, were not returned by press time.

Tractebel North America finance officials have been hitting the pavement in New York City to pitch a deal template for its $1.6 billion financing of four U.S. power plants. While bankers say the indicative pricing of 1 3/8% over LIBOR on the four separate loans is frugal, they are divided on whether they can squeeze better terms out of Tractebel. Pricing has been on project financiers' minds since the draft deal terms were first floated (PFR, 8/12).

Tractebel is set to enter the Spanish generation market through the acquisition of two greenfield projects from Entergy Wholesale Operations. The prospect is leaving project financiers aligned to Tractebel salivating. "The idea of financing a Tractebel project in Spain is certainly appealing," enthuses one Paris-based lender. Tractebel has yet to formally approach its roster of lenders, but should do so once the acquisition has been formally announced. This could be as early as this week, speculates another official.

Warren Buffett's Berkshire Hathaway, the parent of Des Moines, Iowa-based MidAmerican Energy, and TransCanada, a Calgary, Alberta-based natural gas pipeline business, are said to be separately courting CMS Energy to purchase its Panhandle Eastern Pipe Line unit, says a banker familiar with the matter. Panhandle operates a 6,300-mile pipeline network and delivers 2.7 billion cubic feet per day of natural gas to Midwest and East Coast markets. Mark Hamburg, cfo and treasurer at Berkshire Hathaway, did not return calls. Glenn Herchak, a spokesman at TransCanada, declined to comment on whether the company is interested in acquiring the Panhandle pipeline.

The four lead arrangers of American Electric Power's roughly GBP400 million ($619 million) non-recourse financing tied to the acquisition of two U.K. power plants, began sounding out potential sub-underwriters last week and depending on feedback hope to launch syndication at the end of this month.

Burlington, Mass.-based InterGen is looking to rework its $135 million Wildflower non-recourse loan that refinanced two peaker plants in Southern California. Andy Rovito, director of finance, says the 364-day non-recourse bridge loan matures Dec. 31 so the independent power producer has started working on replacing it. He adds that the dollar size will be reduced, but referred further questions to finance staffers more closely involved in the discussions, who did not return calls. The current facility was wrapped as a club deal (PFR, 1/14). The new lead could not be determined.

The South Carolina Public Service Authority (Santee Cooper) is looking to tap the bond market within the next few weeks with either a $325 million or $110 million offering of electric revenue bonds depending on market conditions.