New York Coop Refinances with CFC, Changes Patronage Capital Distribution Policy
Posted on Dec 30, 2013 in Corporate Governance, Financing, Grid & Infrastructure, Patronage Capital | Comments Off on New York Coop Refinances with CFC, Changes Patronage Capital Distribution Policy
Otsego Electric Cooperative (OEC), based in Hartwick, New York, recently refinanced its outstanding debt owed to other lenders with the National Rural Utilities Cooperative Finance Corporation (CFC), becoming the first 100% CFC borrower in the state. OEC, which serves about 4,500 members in the area between the Catskill and Adirondack mountain ranges, also worked with CFC to develop a...
GTC Extends $275 Million Syndication with CFC
Posted on Dec 17, 2013 in Financing, Grid & Infrastructure | Comments Off on GTC Extends $275 Million Syndication with CFC
Georgia Transmission Corporation (GTC), based in Tucker, Georgia, obtained an “amend and extend” transaction that extended the maturity date of a $275 million, five-year syndicated revolving credit facility with the National Rural Utilities Cooperative Finance Corporation (CFC) by two years. The facility was originally arranged in November 2011. GTC uses the facility primarily to...
Missouri Coop Refinances RUS Debt
Posted on Nov 27, 2013 in Financing, Patronage Capital | Comments Off on Missouri Coop Refinances RUS Debt
Co-Mo Electric Cooperative recently refinanced $38.7 million in debt held by the Rural Utilities Service (RUS). CoBank and the National Rural Utilities Cooperative Finance Cooperation issued new debt for the refinancing transaction. The cooperative cited better interest rates and the desire for flexibility outside of government-based borrowing as reasons for the decision to...
Wisconsin Coop Secures Additional CFC Financing
Posted on Nov 25, 2013 in Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development, Reliability, Technology | Comments Off on Wisconsin Coop Secures Additional CFC Financing
Washington Island Electric Cooperative (WIEC), based in Washington Island, Wisconsin, has recently refinanced its debt with another lender to become a 100-percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower. WIEC, which serves 1,080 members on an island in Lake Michigan accessible only by ferry, has plans for some improvement projects, including the...
Southeastern Coops Amend and Extend Lines of Credit
Posted on Oct 14, 2013 in Financing | Comments Off on Southeastern Coops Amend and Extend Lines of Credit
The National Rural Utilities Cooperative Finance Corporation (CFC) recently arranged transactions for two coops that will amend and extend their lines of credit. Winchester-based East Kentucky Power Cooperative (EKPC) was able to increase its $450 million, five-year syndicated revolving credit facility to $500 million and extend the credit facility’s maturity date to 2018. The...
Iowa Coop Refinances More Than $8 Million in Outstanding Debt
Posted on Oct 7, 2013 in Financing, Grid & Infrastructure, Project Development | Comments Off on Iowa Coop Refinances More Than $8 Million in Outstanding Debt
Raccoon Valley Electric Cooperative (RVEC), which serves parts of nine counties in west-central Iowa, has refinanced more than $8 million in outstanding debt with other lenders. After a January 2010 ice storm ravaged RVEC’s system, requiring millions of dollars in restoration and reconstruction work, the National Rural Utilities Cooperative Finance Corporation (CFC) provided an...
Louisiana Coop Looks to Grow With CFC Financing Deal
Posted on Sep 23, 2013 in Financing, Grid & Infrastructure | Comments Off on Louisiana Coop Looks to Grow With CFC Financing Deal
Jefferson Davis Electric Cooperative (JDEC), based in Jennings, Louisiana, has refinanced more than $10.7 million in outstanding debt with other lenders, becoming a 100-percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower. JDEC is expecting substantial growth over the next decade as a result of the ongoing boom in domestic natural gas production. Click here...
CFC Announces Pilot Program with NRCO and Federated
Posted on Sep 9, 2013 in Financing, Renewable Energy, Technology | Comments Off on CFC Announces Pilot Program with NRCO and Federated
The National Rural Utilities Cooperative Finance Corporation (CFC) is working with the National Renewables Cooperative Organization (NRCO) and Federated Rural Electric Insurance Exchange (Federated) to promote a more efficient process for the development of solar projects by coops. NRCO will play a guiding role in the program by advising coops on project management, marketing and...
South Canal Hydro Project Goes Online in Colorado
Posted on Jul 23, 2013 in Environmental, Grid & Infrastructure, Innovation/Efficiency, Renewable Energy, Technology | Comments Off on South Canal Hydro Project Goes Online in Colorado
Colorado-based Delta-Montrose Electric Association (DMEA) brought its South Canal Hydro project online in late June. The project was funded by the National Rural Utilities Cooperative Finance Corporation with $22 million in New Clean Renewable Energy Bonds (CREBs), and it will divert flow to generate an estimated 27 million kWh annually. Click here for more details on this...
Arkansas Coop Extends $250 Million Syndication with CFC
Posted on Jun 26, 2013 in Financing, Grid & Infrastructure | Comments Off on Arkansas Coop Extends $250 Million Syndication with CFC
Arkansas Electric Cooperative Corporation recently closed an Amend and Extend agreement with the National Rural Utilities Cooperative Financing Corporation (CFC), locking in current pricing and extending the maturity date of its $250 million credit facility to June 2016. Both parties were pleased with the speed and efficiency of utilizing the Amend and Extend transaction, which was...
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