Overview
(December 19, 2024, New York) — Steptoe LLP represented the arrangers, agents, green loan coordinator, lenders and issuing bank on a Green Loan Principles-aligned assumption and combined restatement, increase and extension of credit facilities supporting the continued operations of a portfolio of behind-the-meter battery energy storage systems located in Southern California. The portfolio is owned by Electrodes Holdings, LLC.
First-Citizens Bank & Trust Company acted as Mandated Lead Arranger, Administrative Agent and Collateral Agent, Coöperatieve Rabobank U.A., New York Branch, acted as a Coordinating Lead Arranger and Issuing Bank and ING Capital LLC acted as a Coordinating Lead Arranger and Sole Green Loan Coordinator.
Steptoe’s team was led by Philip Corsello and included Danielle Fern, Sabina Jacobs Margot, Chris Zentz, Alexandra Scheibe, Irene He, Alex Ahkar, and Siobhan Smith.
About Steptoe
In more than 110 years of practice, Steptoe has earned an international reputation for vigorous representation of clients before governmental agencies, successful advocacy in litigation and arbitration, and creative and practical advice in structuring business transactions. Steptoe has more than 500 lawyers and other professional staff across offices in Beijing, Brussels, Chicago, Hong Kong, Houston, London, Los Angeles, New York, San Francisco, and Washington. For more information, visit www.steptoe.com.
