In the firm’s latest transaction for energy and natural resources companies, CTSW closed a $100 million private placement of first mortgage bonds with five and fifteen year maturities for a Minnesota-based investor owned utility. The deal is the latest in a brisk year for the firm’s energy finance practice.
“Although the Fed decided to hold interest rates unchanged at its meeting a couple of weeks ago, it has left open the possibility of an increase later this year, so savvy clients are using this as an opportunity to lock-in rates now,” said Walter Godlewski, the partner who led the transaction. “In fact, we’ve also priced a number of other deals for energy clients that are scheduled to close in the next few weeks,” he added.