trending Market Intelligence /marketintelligence/en/news-insights/trending/y4VrXY8WH_LThPnM5h5PtQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Boralex, project partners refinance Seigneurie de Beaupré

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Boralex, project partners refinance Seigneurie de Beaupré

Boralex Inc.,Gaz Métro LP andValener Inc. haverefinanced C$617.5 million in debt tied to the 272-MW wind farmunits 2 and 3 in Quebec, according to a May 4 news release.

The entities also declared a C$80 million specialdistribution to the partners of the wind farms which went online in 2013.Boralex owns 50% of the facilities followed by Gaz Métro which owns 25.5% andValener which owns 24.5%.

The refinancing consists of a C$383.4 million term loanexpiring in December 2032, representing a C$132.3 million increase over theinitial tranche and a one year extension of the maturity date; a C$192.7million term loan expiring in December 2029, representing a C$44.5 milliondecrease and a two year reduction of the maturity date; and a C$41.4 millionletter of credit facility.

The C$192.7 million tranche of the refinancing is covered bya guarantee from Germany's export credit agency Euler-Hermes.

Lenders involved in the refinancing are Bank ofTokyo-Mitsubishi (UFJ), KfW IPEX-Bank, Sumitomo Mitsui Banking Corp., MizuhoCorporate Bank, AKA Bank, DZ Bank, Laurentian Bank of Canada, Commonwealth Bankof Australia and Crédit Industriel et Commercial.

Cosime Infrastructure and Energy and JCRA Canada Inc. actedas financial and hedging advisors on behalf of the wind farms, respectively.