First Wind Secures $210 Debt Financing

Boston-based First Wind, which is funded by private equity firm Madison Dearborn and hedge fund operator D.E. Shaw, said that it has sealed $210 million in financing for its subsidiary Palouse Wind LLC. The company will use the financing to continue construction of its wind facility in Whitman County, Wash. Palouse closed an approximate $170 million construction and term facility loan, and letters of credit of up to $40 million. KeyBank National Association served as the joint lead arranger and administrative agent, and Nordduetsche Landesbank Girozentrale, CoBank ACB, and Banco Santander served as joint lead arrangers.

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