Kenon (KEN) has released an update.
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Kenon’s subsidiary OPC Energy Ltd. has successfully refinanced a $625 million debt facility for its 25%-owned project company, CPV Fairview, which operates a natural gas power plant in Pennsylvania. The refinancing includes a $550 million term loan and $75 million in ancillary credit facilities, with a notable $257 million to be distributed as dividends to partners. The new agreement features SOFR-based interest rates, scheduled amortization, and enhanced financial covenants to provide a more flexible financial structure for the company.
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