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New York, NY, May 1, 2006. U.S. Energy Systems, Inc. (Nasdaq:USEY), announced that it has retained Credit Suisse Securities (USA) LLC to act as lead arranger to raise project debt financing of approximately $130,000,000. It is currently expected that the debt financing would consist of a senior secured loan facility and a subordinated loan facility. The transaction is expected to go to market in May.
Credit Suisse's engagement does not constitute a commitment to provide, arrange or syndicate the debt financing, to purchase any securities in connection with the debt financing or give rise to any other obligation or commitment to provide any financing.
Credit Suisse is the lead North American project loan arranger for the year ended 2005.
About U.S. Energy Systems, Inc.
U.S. Energy Systems, Inc is an owner of generating facilities and a provider of energy outsourcing services for large retail customers, including industrial, commercial and institutional end users. USEY owns and operates energy projects in the United States that generate electricity and thermal energy and use renewable fuels.
For further information contact:
Investor Relations Department
U.S. Energy Systems, Inc.
750 Lexington Avenue
15th Floor
New York, NY 10022
212-588-8901
info@useyinc.com
Certain matters discussed in this press release are forward-looking statements, and certain important factors may affect the Company's actual results and could cause actual results to differ materially from any forward-looking statements made in this release, or which are otherwise made by or on behalf of the Company. Such factors include, but are not limited to, changes in market conditions, the inability to commence planned projects in a timely manner, the impact of competition, the ability to complete acquisitions, risks associated with acquisitions, as well as other risks detailed from time to time in US Energy's Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the year ended December 31, 2004, as amended. We do not undertake to update any of the information set forth in this press release.
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