The
project
developer,
owned
jointly
by
ArcLight
Capital
Partners
and
Global
Infrastructure
Partners,
has
gathered
the
necessary
funds
for
the
project
–
broken
into
four
blocks
known
as
Alta
Projects
2-5
–
through
a
complex,
multi-tiered
financing
package.
It
includes
$580m
in
pass-through
certificates
–
essentially
pooled
debt
repackaged
as
shares
–
under
securities
rules
that
allow
private
securities
sales
to
qualified
institutional
buyers
without
registration
with
the
Securities
and
Exchange
Commission.
These
are
due
in
2035.
These
certificates,
in
addition
to
a
bridge
loan
of
$499m,
will
fund
construction.
There
is
also…
