CenTrio Successfully Completes $485 Million Comprehensive Refinancing to Support Long-Term Growth

Posted on July 1st, 2026 | Filed under Press Releases

HOUSTON, July 1, 2026 /PRNewswire/ — CenTrio, a leading district energy provider, has completed a comprehensive refinancing that strengthens the company’s capital structure, extends debt maturities, and enhances financial flexibility to support long-term growth.

This refinancing represents a significant milestone in CenTrio’s strategic expansion, positioning the company for its next phase of growth. The transaction includes a new $485 million HoldCo credit facility composed of a $210 million senior term loan, $150 million delayed draw term loan to support investments in future growth, $50 million revolving credit facility, and $75 million letter of credit facility.

Apterra Infrastructure Capital acted as Sole Bookrunner and Joint Lead Arranger for the transaction, which was significantly oversubscribed.

Ralph Cho and Michael Pantelogianis, Co-CEO’s of Apterra, said, “The depth of investor demand for this transaction underscores the strength of CenTrio’s model as a leading sustainable energy provider with a multi-decade track record of reliability and diverse, nationwide customer base. Apterra was proud to support CenTrio in this financing, which showcases our ability to structure and deliver bespoke solutions for critical infrastructure platforms.”

ING Capital and Mizuho also backed the transaction as Joint Lead Arrangers.

The HoldCo transaction was supported by distributions from a $130.5 million project financing of one of CenTrio’s concessions and incremental sponsor capital, reinforcing the sponsors’ continued commitment to CenTrio. ING Capital sourced the term-loan bridge structure for this project financing.

“As joint sponsors, QIC and Ullico have a shared commitment to the long-term growth and success of CenTrio’s business, which this transaction represents,” said Marietta Moshiashvili, Partner of QIC Infrastructure, the majority sponsor.

Eric Miller, Chief Executive Officer of CenTrio, noted, “Our enhanced capital structure positions CenTrio to continue investing in reliable, efficient, and sustainable district energy infrastructure assets while expanding our partnerships with municipalities, universities, healthcare systems, and data center customers. I sincerely appreciate the CenTrio team and our lending partners whose dedication and collaboration were instrumental in bringing this transaction to a successful close.”

Mayer Brown LLP served as counsel to CenTrio, and Kirkland & Ellis acted as counsel to Apterra Infrastructure, ING Capital, Mizuho and other lenders.

About CenTrio
CenTrio is a leading district energy infrastructure platform providing sustainable heating, cooling, and electricity solutions to cities, campuses, and mission-critical facilities across the United States. With operations in Chicago, Seattle, Denver, New Orleans, Baton Rouge, Houston, Syracuse, Los Angeles, Portland, and Ypsilanti, CenTrio owns and operates essential energy infrastructure that helps residential, commercial, industrial, and institutional customers improve reliability, resiliency, and sustainability while advancing their decarbonization goals.

To learn more, please visit CenTrio at centrioenergy.com.

For more information, please contact:

Jim Lodge

Chief Revenue Officer
CenTrio
[email protected]

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