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Boralex refinances corporate credit facility

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Boralex refinances corporate credit facility

has replaced itsC$175 million revolving credit facility due June 2018 with a new C$360 millionfacility, according to an April 28 release.

The newfacility comprises a C$300 million revolving credit facility and aC$60 million letter of credit facility guaranteed by ExportDevelopment Canada, the company said.

Thefacility is secured primarily by certain of Boralex's assets, including itshydroelectric power stations in Quebec. It will initially expire in April 2020and can be renewed annually.

"Thisrefinancing will significantly improve our financial flexibility and will allowcapital to be allocated to new projects, enabling us to pursue growthobjectives," Boralex President and CEO PatrickLemaire said in the release.