A Babcock & Brown subsidiary has selected BayernLB, BNP Paribas, and Scotia Capital to arrange financing for its $910 million purchase of two Dominion natural gas utilities. The three banks will provide debt to Babcock & Brown Infrastructure Fund North America covering roughly 60% of the acquisition financing for Dominion Peoples and Dominion Hope gas distribution utilities in Pennsylvania and West Virginia, respectively. The remainder of the funds will come from sponsor equity.
September 05, 2008