Business
Boralex announces the closing of a Euro106 million (C$165 million) financing for four wind farms under construction in France
Boralex announces the closing of a €106 million (C$165 million) financing for four ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex announces the closing of a €106 million (C$165 million) financing for four wind farms under construction in France\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, Feb. 19, 2019\n\n\n\nMONTRÉAL, Feb. 19, 2019 /CNW Telbec/ - Boralex Inc. (\"Boralex\" or the \"Corporation\") (TSX: BLX) has closed financing for four wind farms under construction in France for a total amount of €106 million (C$165 million).\nThese wind farms are namely Basse Thiérache Nord (20 MW), Catésis (10 MW), Seuil du Cambrésis (24 MW), as well as Cham Longe which is undergoing repowering to increase its capacity from 18 MW to 35 MW. These wind farms are part of Boralex's development plan and will be commissioned in 2019 and 2020.\nThis financing is provided by Crédit Industriel et Commercial, Auxifip, Caisse Régionale de Crédit Agricole Mutuel Nord de France, CM-CIC Infra Debt Fund and BPI France Financement.\nThe additional financing is based on a debt/equity ratio of 80/20 and comprises four variable-rate tranches amortized over terms ranging from 15 to 20 years for a total amount of €106 million. Given the forward rate agreement and current drawdowns, the average rate is approximately 2.29%.  \nIn addition to the long-term tranches totalling €106 million, the financing also includes short-term tranches for a total amount of €17.8 million (C$27.8 million) to meet temporary funding requirements related to French value-added tax. Lastly, the financing also includes a debt service reserve facility for a potential total amount of €5.3 million (C$8.3 million).\nAbout BoralexBoralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States. A leader in the Canadian market and France's largest independent producer of onshore wind power, the Corporation is recognized for its solid experience in optimizing its asset base in four power genera...