We advised the borrower on the facility

Davis Polk advised FPS Finance Co I LLC, a wholly owned subsidiary of Frontier Infrastructure Holdings LLC, as borrower in connection with a $130 million senior secured equipment supply loan financing provided by funds managed by Kennedy Lewis Investment Management LLC. Kennedy Lewis Agency Partners LLC acted as sole lead arranger. The proceeds of the loans will be used to purchase simple-cycle gas turbines, to be incorporated into and power dedicated energy islands at behind-the-meter power generation sites.

Frontier is a leading developer of low-carbon infrastructure across the Mountain West and Texas, with projects spanning carbon capture and storage, carbon by rail logistics and low-carbon power solutions. The company’s behind-the-meter energy platform delivers localized, dispatchable power with integrated carbon solutions to support energy-intensive customers.

The Davis Polk finance team included partner David J. Penna, counsel Kailash Gupta and associates Jack Hobbie and Adam Petno. Partner Kara L. Mungovan and counsel Leslie J. Altus provided tax advice. Counsel Will Schisa and associate Daria Adjowa Serwaa Nonnemaker provided AML/sanctions advice. Counsel Leon E. Salkin and associate Alex Brod provided investment management advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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