June 1, 2026
NEW YORK, June 1, 2026 – CHPE LLC (the “Company” or “CHPE”), today announced that it has priced its offering of $4 billion in aggregate principal amount of senior secured notes in four series, consisting of (i) $1 billion 4.875% senior secured notes due 2031, (ii) $750 million 5.100% senior secured notes due 2033, (iii) $1.25 billion 5.350% senior secured notes due 2036 and (iv) $1 billion 5.875% senior secured notes due 2046 (collectively, the “Notes”) to eligible purchasers (the “Notes Offering”). The Notes Offering is expected to close on June 11, 2026, subject to customary closing conditions.
The Company intends to use the net proceeds from the Notes Offering for the repayment of a portion of the outstanding loans under its existing credit facility, to pay any related premium, costs, fees or expenses (including accrued and unpaid interest, hedge termination costs and any breakage costs in connection with such repayment) and to pay fees, costs and expenses of the Notes Offering.
The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and unless so registered, the Notes may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person, absent registration or an applicable exemption from registration requirements. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to non-U.S. persons outside the United States only in compliance with Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy any securities, nor shall there be any offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About CHPE LLC
The Company has constructed and commissioned the now operational Champlain Hudson Power Express (the “Project”), a c.339 mile, high-voltage direct current transmission line capable of transmitting 1,250 MW of clean, renewable energy from Canada directly to New York Independent System Operator Zone J, which covers New York City. The Project resides on the U.S. side of the border and connects to a transmission line that is owned and operated by Hydro-Québec and its subsidiaries. The Company owns, operates and maintains the Project. CHPE is the wholly-owned direct subsidiary of TDI-USA Holdings LLC (“TDI”), which in turn is controlled by New York Clean Power Holdings, LLC (“NYCPH”). NYCPH is indirectly wholly-owned by Blackstone Inc., a global leader in alternative asset management with $1.3 trillion in assets under management as of March 31, 2026.
Forward-Looking Statements
This press release contains certain statements that are, or may be deemed to be, “forward-looking statements.” All statements, other than statements of historical facts, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, statements regarding the consummation of the Notes Offering, the intended use of proceeds therefrom and any other statements that relate to non-historical or future information. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology. The forward-looking statements contained in this press release are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe that such estimates are reasonable, they are inherently uncertain and involve a number of risks and uncertainties beyond our control. In addition, assumptions may prove to be inaccurate. We caution that the forward-looking statements contained in this press release are not guarantees of future performance and that such statements may not be realized or the forward-looking statements or events may not occur. Actual results may differ materially from those anticipated or implied in forward-looking statements as a result of a variety of factors. These forward-looking statements speak only as of the date made, and other than as required by law, we undertake no obligation to update or revise any forward-looking statement or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise.
Contact
TDI / CHPE
(800) 991-CHPE (2473)
news@chpexpress.com