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Chapman and Cutler Advises Institutional Investors in $85 Million Private Placement with Key Energy Project

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Chapman represents institutional investors in the issuance of private placement notes by Prairie Wind Transmission for its high-capacity electrical line project.

February 16, 2015

CHICAGO, February 16, 2015 – Following the completion of a 108-mile, high-capacity electrical transmission line throughout south-central Kansas, Chapman and Cutler represented institutional investors in the private placement of notes issued by the joint venture owner of the project, Prairie Wind Transmission, LLC.

This transaction represents one of the latest project finance cases for the firm, which frequently represents investors, issuers, purchasers, government entities, and other financiers in a wide variety of project finance transactions. For this project, Chapman assisted institutional investors in procuring $85 million in private placement notes issued by Prairie Wind Transmission.

Prairie Wind Transmission plans to use the proceeds of the notes to refinance construction expenses associated with the transmission line, which was completed in October 2014 and cost a little over $160 million to complete, according to company estimates.

“We were pleased to be involved in the financing of this line,” said Bruce Bedwell, a project finance partner in Chapman’s Corporate Finance Group and a lead attorney for this transaction. “Our group has been involved for decades in financing a variety of energy projects and assets nationwide, so we’ve seen the long-term benefits of infrastructure projects such as this one and the importance of sustainable financing. We were glad to use our experience in energy and project finance to help build a mutually beneficial partnership between Prairie Wind and its investors.”

The electric energy line was constructed to lower costs and improve reliability of electricity in the region while also supporting the expansion of renewable energy wind farms in Kansas. Due to the firm’s niche experience working with renewable energy and other utility projects, Chapman attorneys were able to provide investors with the technical and industry knowledge necessary for the successful issuance of the private placement notes.

Bedwell and Chapman partner Neil Mann led the deal team, with additional assistance from partner Philip Edison and associate John Lulay. For more information on Chapman’s Corporate Finance Group, click here.

Contacts

Bruce Bedwell
Partner, Corporate Finance
bedwell@chapman.com

Neil Mann
Partner & Practice Group Leader, Corporate Finance
mann@chapman.com