Panda Power financing seen as breakthrough
A new electricity plant planned for Temple (the Star-Telegram's report is here) is more than just good news for the state's capacity-strapped power grid. Market observers say Panda's success selling $330 million in high-yield bonds represents a big step for U.S. banks trying to revive investor interest in new project financing. According to Reuters,it's "the first term loan financing to carry construction risk since a Missouri-based coal plant called Plum Point received financing in 2006."
The Reuters story is here.
-- Jim Fuquay