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Boralex increases revolving credit facility

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Boralex increases revolving credit facility

Boralex Inc. has increased a revolving credit facility to C$560 million, from C$460 million, and extended its maturity date to April 27, 2022.

"The extension of our credit agreement and enhancement of our financial flexibility is great timing as Boralex continues on its growth path to achieve the target of 2,000 MW by the end of 2020," said Boralex President and CEO Patrick Lemaire in a March 29 news release.

National Bank of Canada acted as the lead arranger and administrative agent with a syndicate of Canadian banks including Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, Caisse Centrale Desjardins, Bank of Montreal, Royal Bank of Canada and a U.S. bank, Comerica Bank.