Exelon will finance its $860 million entry into the wind development arena with its agreement to buy John Deere Renewables with senior unsecured bonds.
Electric utilities are looking to prefund capital expenditures and upcoming maturities with bond issues as peers have snagged record-low coupons in the past three weeks.
The Southern California Public Power Authority has issued $533 million in take or pay bonds to fund its pre-paid 20-year offtake agreement with Cannon Power Group’s 262 MW phase II of its Windy Point wind project.
AES Corp. has landed a four-year extension of its revolving credit facility--a rare deal as extensions have been in the three-year range for power companies since the financial crisis began, observers say.