Cleco Preps Revolver Revamp
Cleco Corp. is planning to rework two unsecured credit facilities totaling $275 million arranged last April.
Cleco Power's short-dated line bears pricing of LIBOR plus 1% and expires in April while the holding company's revolver is priced at LIBOR plus 165. Officials at WestLB declined to comment. Calls to J.P. Morgan and BoNY were directed to spokesmen who were unable to comment.