AlphaGen Announces Successful Completion of $750 Million Senior Notes Offering

HOUSTON, Oct. 8, 2025 /PRNewswire/ -- Alpha Generation, LLC ("AlphaGen") today announced it has completed its offering of $750 million aggregate principal amount of 6.250% senior notes due 2034 (the "Notes").

The Notes will be jointly and severally guaranteed by certain of AlphaGen's subsidiaries that also guarantee its existing 6.750% senior notes due 2032, senior secured revolving credit facility and senior secured term loan B facility. AlphaGen intends to use the proceeds from the offering for general corporate purposes.

"We are pleased to announce the success of this notes offering. Following our inaugural financing last year, this outcome confirms our investors' strong confidence in our power infrastructure portfolio and the strategic improvements made by the AlphaGen team," said Stacey Peterson, Chief Financial Officer of AlphaGen. 

The Notes and related guarantees were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell any security, including the Notes, nor a solicitation for an offer to purchase any security, including the Notes.

Morgan Stanley served as lead financing bank, White & Case LLP served as counsel to AlphaGen, and Cahill Gordon & Reindel LLP served as counsel to Morgan Stanley and the other lead arrangers on the notes offering.

About AlphaGen

AlphaGen is a strategic partnership formed and owned by an affiliate of ArcLight Capital Partners, LLC to own and operate critical power infrastructure to provide reliable, secure, safe, and sustainable sources of power and meet the growing infrastructure needs created by the increased demand for reliable power, including electrification and data center growth. AlphaGen is led, through Alpha Generation Services, LLC, by a deeply experienced senior management team with a proven track record of strategic, operational, and commercial expertise to help create value and manage risk. AlphaGen owns over 11,000 megawatts of power infrastructure across four RTO markets (PJM, NYISO, ISONE, and CAISO). For more information, please visit www.alphagen.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as "intend," "expect," "estimate," "should," "anticipate," "forecast," "plan," "guidance," "outlook," "believe" and similar terms. Although AlphaGen believes that the expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. AlphaGen undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Alpha Generation, LLC