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  • Changes to an amendment proposal from Energy Future Holdings, formerly known as TXU, are expected to be announced today, ahead of the deadline for lenders to vote on the amendment. Buysiders also expect the deadline will be extended, according to a PFR sister publication, Total Securitization & Credit Investment.
  • Enel North America, a subsidiary of Italian utility Enel, has signed a letter of intent with a solar developer as it seeks entrance into the North American solar market. An agreement for building out a several-hundred megawatt development pipeline will likely come to fruition before year-end, says Michael Storch, executive v.p. of strategy in Andover, Mass. He declined to identify the partner.
  • Niagara Mohawk Power Corp. plans to use proceeds from a $750 million bond issue for general corporate purposes and investment in infrastructure. The bonds, which priced Monday, were upsized from $500 million and were issued at the NiMo Power Corp. subsidiary level. The yield on the bonds is 4.88% over 10 years.
  • Terra-Gen Power will look to secure a term loan for the first 150 MW phase of its 3 GW Alta Wind Energy Center in Tehachapi, Calif., says a project financier in New York. The loan will take out a one-year $140 million financing the developer secured this week to fund its purchase of 100 General Electric 1.5 MW turbines. The size of the future term loan could not be immediately learned. Calyon led the one-year deal, which priced in the range of 300 basis points over LIBOR. CIT and Prudential Capital Group participated. The strength and experience of the sponsor and the technology made the deal particularly attractive, says Mike Lorusso, director at CIT in New York. “If you get in early, you have a good chance to get in on the term financing of the project,” notes Adam Umanoff, partner at Chadbourne & Parke in Los Angeles. Chadbourne represented Terra-Gen in the deal. John O’Connor, cfo in New York, Calyon and Prudential officials declined to comment or did not return calls.
  • More than three lenders have joined in the $700 million in financing backing the Mitsui-led consortium’s 500 million cubic feet per day regasification terminal in Manzanillo City, Mexico, according to a deal watcher. Calyon and Mizuho Corporate Bank are leading the deal, which is slated to close next month. Calyon and Mizuho officials either declined to comment or did not return calls and the identity of lenders joining the deal could not be immediately learned.
  • Developer Juwi International is talking to German banks about financing and developing projects in the U.S. “These are hypothetical conversations and we’re helping them out with possible rates,” says a project financier at a German bank in New York. Richard Zachariason, coo of subsidiary juwi Wind US in Cleveland, was not available to comment and his assistant declined to make another official available. Ralf Krueger, coo in Wörrstadt, Germany, did not respond to e-mail.
  • CIT Group withdrew its ratings request from Standard & Poor’s for the $290 million BRSP loan refinancing a leveraged lease because of the discrepancy in ratings. Moody’s Investors Service did not change its rating from B1. S&P lowered the debt rating to CCC in step with CIT’s downgrade citing that the debt is not ring fenced from the rest of the company in line with the rating agency’s guidelines.
  • Trading and investment concern Sumitomo Corp. of America is looking to make equity investments in U.S. wind and solar projects. Legislation encouraging and subsidizing renewable development has spurred the firm’s entrance into the market, says Masao Miyamoto, executive v.p. in New York. The firm is in discussions with several developers and other parties to purchase a stake in a wind project before year-end. He declined to identify sellers or specify assets under consideration.
  • Dolphin Energy, the owner of a 226-mile natural gas pipe in the United Arab Emirates, landed a massive refinancing last Monday, including an upsized $1.25 billion bond issue.
  • A Macquarie Capital Wind Fund partnership is talking to Australian, American and European lenders to finance the first phase of its $2 billion, 1 GW Silverton wind farm in Australia.