Prudential Private Capital invests $60M in Catalyst Vidalia Holding Corporation
DALLAS, January 17, 2023 – Prudential Private Capital provided $60 million of Senior Secured Notes to Catalyst Vidalia Holding Corporation, an indirect owner of a 192 MW operating hydroelectric project located in Louisiana. Catalyst Vidalia Holding Corporation is indirectly owned by Brookfield Renewable Partners, a managing member of the asset. Prudential Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
“We are proud to continue supporting a high-performing hydro facility, which is among the newest and largest hydroelectric facilities built in the U.S. in the last 30 years.” said Ingrida Soldatova, Senior Vice President of Prudential Private Capital’s Power group.
“Our involvement with this asset dates back to 1990, reinforcing our relationship-based, long-term financing strategy,” added Soldatova. Notably, Prudential Private Capital has supported this asset with multiple issuances over the last three decades:
- Catalyst Old River Hydroelectric LP - investment in the original 30-year leveraged lease financing in 1990
- Gator Power Holdings I - $40 million of Senior Secured Notes to fund a portion of ArcLight’s acquisition in 2011.
- Gator Power Holdings II - $70 million of Senior Secured Notes to support a refinancing in 2015.
- Rougaroux Power Holdings - $60 million of Senior Secured Notes at a holding company to recapitalize the non-managing member interest in 2021.
“Our involvement with this asset dates back to 1990, reinforcing our relationship-based, long-term financing strategy.”
Ingrida Soldatova, Senior Vice President, Real Assets – Power
About Brookfield Renewable Partners
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000 megawatts of installed capacity and an over 100,000-megawatt and 8 million metric tons per annum (“MMTPA”) of carbon capture and storage development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at bep.brookfield.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.
Brookfield Renewable is the flagship listed renewable power company of Brookfield Corporation (NYSE: BN; TSX: BN).
About Prudential Private Capital
For nearly 100 years, Prudential Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we are known for building enduring local partnerships based on a steady and patient commitment to our partners’ long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of over $92.7 billion for our partners (as of September 30, 2022).
