Proceeds from the financing were used to acquire the outstanding minority interest in Dixie Valley, repay existing Dixie debt, to pay down a portion of Terra-Gencorporate debt and for general corporate purposes, according to the company.
Terra-Gen officials were not immediately available for comment.
In a statement, Terra-Gen says John Hancock Financial Services, MetLife and Prudential Capital Group bought $175m of Series A and Series B Lessor Notes due 2033 issued in a private placement.
