The annual interest rate will be fixed at the time of the funding date at the current yield to maturity on US Treasury securities with a term equal to the average life of the loan plus a spread..
The transaction is expected to close in December subject to satisfactory project and legal due diligence, documentation and final credit approval.
John Hancock intends to submit an application to the US Energy Department for a loan guarantee under the agency’s Financial Institutions Partnership Program (FIPP), according to Nevada Geothermal.
The
