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The deal comes as nuclear assets gain traction with investors amid a surge in AI infrastructure boosted demand for power
By Jeannine Amodeo
Royal Bank of Canada is leading a US$1.1 billion loan financing to support the takeover of nuclear services company EnergySolutions LLC by buyout firm Energy Capital Partners LLC.
The bank is weighing the sale of the debt to institutional investors for as soon as June, though those plans may change, according to a person with knowledge of the matter, who asked not to be named because the discussions are private.
ECP is re-acquiring EnergySolutions four years after selling a majority stake in the Salt Lake City-based company. The deal comes as nuclear assets are gaining traction with investors amid a surge in artificial intelligence infrastructure and electrification that has boosted demand for power.
Representatives for RBC, ECP and EnergySolutions declined to comment.
Banks have been navigating more volatile markets and investor pushback to offload other large buyout financings as the war in the Middle East weighs on confidence.
The number of deals brought to market in March more than halved from a year earlier, according to Bloomberg-compiled data, and the US$7.2 billion debt sale to fund the Sealed Air Corp. takeover saw several rounds of concessions to get it over the finish line.
U.S. leveraged loan offerings currently in market are sparse with just three deals on the calendar.
Bloomberg.com
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