Ashley S. Gregory
Kirkland & Ellis debt financing partner Ashley S. Gregory is part of the team representing Exelon Corp. in its recently announced acquisition of Pepco Holdings Inc. for $6.8 billion. The deal will create the largest electric and gas utility in the mid-Atlantic area.
The combined utility businesses will serve approximately 10 million customers and have a rate base of approximately $26 billion. The all-cash transaction, which is expected to close in the second or third quarter of 2015, is supported by a fully committed $7.2 billion bridge facility with Barclays and Goldman Sachs. Exelon expects the permanent financing plan to include a combination of Exelon equity issuance, long-term debt and corporate cash, according to Chicago-based Exelon.