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Boralex closes Euro136 million of financing in France
Boralex closes €136 million of financing in France Canada NewsWire MONTR&...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex closes €136 million of financing 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. 28, 2018\n\n\n\nMONTRÉAL, Feb. 28, 2018 /CNW Telbec/ - Boralex Inc. (\"Boralex\" or the \"Corporation\") (TSX: BLX) announced the financing for the Inter Deux Bos (33 MW), Côteaux du Blaiseron (26 MW), Le Pelon (10 MW), Hauts de Comble (20 MW) and Sources de l'Ancre (23 MW) wind farms in France for a total amount of approximately €136 million (C$ 212 million). This financing is provided by Crédit Industriel et Commercial, Auxifip, Caisse Régionale de Crédit Agricole Mutuel Nord de France and BPI France Financement.\n\nThe financing is based on a debt/equity ratio of 80/20 and consists of a 15-year, €108.8 million fixed-rate tranche and a 15-year, €27.2 million variable-rate tranche. Given the interest rate swaps and current drawdowns, the combined average rate for the two tranches is approximately 2.6%. In addition to the long-term tranches, the financing also includes short-term tranches for a total amount of €20.4 million (C$31.8 million) to meet temporary funding requirements related to French value-added tax.\n\nFor the Hauts de Comble and Côteaux du Blaiseron projects, debt drawdowns are subject to certain customary conditions, which are expected to be lifted in the coming weeks.\n\nLastly, construction on each of the projects is either underway or beginning in the coming months, with commissioning scheduled from the end of 2018 through 2019.\n\nAbout Boralex\n\nBoralex 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 generation types – wind, hydroelectric, thermal and solar. Boralex ensures sustainable growth by leveraging the expertise and diver...