New Orleans-based Entergy has paid off lenders in a $350 million revolver that was arranged last fall to fund turbine acquisitions. The Turbine Trust 1 facility was funded last September, but with Entergy scaling back its development activities, and so reducing the need for turbines, the loan was taken out early, explains an official close to the deal. A financier at Barclays Capital, lead arranger of the revolver, and Morgan Stewart, a spokesman at Entergy, declined comment.
May 07, 2002