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TVA closes lease bonds for John Sevier CCGT
20 January 2012
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[tva]
[tennessee]
[ge]
[lease]
The Tennessee Valley Authority has closed a $1 billion leveraged lease financing for its 880MW John Sevier combined-cycle gas-fired plant in Rogersville, Tennessee. The financing consists of $100 million in lease equity, from a group of unnamed financial institutions, and $900 million in 30-year lease bonds, led by Morgan Stanley (also structuring agent), Bank of America Merrill Lynch and Barclays Capital, which priced for a 4.626% coupon.
The lease-purchase is the TVA's sixth, though...
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