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MidAmerican to beat negative carry with staggered Topaz solar bonds
08 February 2012
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[midamerican]
[first solar]
[negative carry]
[pg&e]
[california]
MidAmerican Energy is participating in roadshows this week for a $700 million senior secured bond issue for its 586MW Topaz solar project in California. Barclays Capital, Citi and Royal Bank of Scotland are underwriting the 144A issue, which matures in 2039. The financing is notable for including staggered bond issues and not using any external enhancement. The underwriters are also looking for participants in a...
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