Longview Power to Explore Strategic Alternatives, Engages Houlihan Lokey

Longview Power to Explore Strategic Alternatives, Engages Houlihan Lokey

MORGANTOWN, W.Va., March 19, 2018 /PRNewswire/ -- Longview Power, LLC ("Longview Power" or "Company"), the owner and operator of a state-of-the-art 700 MW power generation station in West Virginia, announced today that it is exploring strategic alternatives, including a potential refinancing of the Company's existing senior secured debt. Longview Power has engaged Houlihan Lokey, Inc. as financial advisor to assist in evaluating strategic alternatives.

"Longview Power, the most efficient and one of the cleanest coal-fired power plants in the United States, has performed during the past months at an industry-leading 100% capacity factor," said Jeff Keffer, Longview Power's CEO, "even under the most demanding circumstances, such as during the recent 'cyclone bomb,' an extreme weather event when over 23 GW of capacity was offline in PJM."

Mr. Keffer further noted that, "Longview Power's recent strategic initiative to source all its coal from low-cost regional mines producing higher quality fuel has further enhanced Longview Power's stature as the region's lowest cost, most reliable coal powered energy generator. In light of these recent events, and Longview's performance, Longview has decided to explore strategic alternatives."

Longview Power is privately owned by institutional investors and management including KKR, its principal investor through its credit funds. KKR has been highly supportive throughout the past few years as Longview Power has improved and enhanced its generating facility. KKR is a leading global investor with over 41 years of experience, and $168 billion in assets under management and a strong record of performance.

Houlihan Lokey, Inc. is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting.

About Longview Power
Longview Power is a wholly-owned subsidiary of Longview Intermediate Holdings C. Longview Power operates a state-of-the-art 700 MW (net) power generating station that is the most efficient by heat rate and environmentally compliant coal-fired plant in the 13-state PJM Interconnection energy market. For more information, please visit www.longviewpower.com.

CONTACT: Peyton Burgess, (212) 850-5653

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SOURCE Longview Power