The Firm represented Alberta Investment Management Corporation in connection with a $115 million term loan facility to an affiliate of First Wind Holdings, LLC. The term loan facility is secured by the residual equity interests in three of First Wind Holdings, LLC’s wind powered electrical generating facilities, the Cohocton facility, Stetson facility and Steel Winds facility. Proceeds from the financing transaction will be used to further First Wind Holdings, LLC’s development activity and for general corporate purposes. First Wind Holdings, LLC is a leading independent wind power developer backed by affiliates of the D. E. Shaw group and Madison Dearborn Partners. Alberta Investment Management Corporation is one of the largest institutional investment management firms in Canada, with C$68 billion in assets under management. Alberta Investment Management Corporation manages capital for public sector pension plan and government endowment fund clients across a wide variety of asset classes. The transaction closed on July 17, 2009.
The Simpson Thacher team for the transaction included David Lieberman, Brian Steinhardt, Amy Beller, Brian Gluck, Bill Banwo and Sean Crnkovich (Credit), Jim Thompson (Project Finance Due Diligence), Jenifer Marsh (Tax), Mardi Merjian, Eric Berry and Brian Ferry (Real Estate), Mike Isby and Tim Mulvihill (Environmental), Scott Dyer and Fagie Hartman (Labor), Rachel Berry (Executive Compensation and Employee Benefits) and Brian Chernoff and Nick Ferre (Summer Associates). Paralegals Asher Rumack and Chris Stone provided valuable assistance.