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Boralex closes financing of Euro100 million in France
Boralex closes financing of €100 million in France Boralex closes financing...
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[{"type":"text","content":"\n\n\n\nBoralex closes financing of €100 million 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\nBoralex closes financing of €100 million in France\nCanada NewsWire\nMONTRÉAL, Oct. 25, 2016\n\n\n\nMONTRÉAL, Oct. 25, 2016 /CNW Telbec/ - Boralex Inc. (\"Boralex\" or the \"Corporation\") (TSX: BLX) announced the closing of financing for the Mont de Bagny (24 MW), the Artois (23.1 MW) and the Voie des Monts (10 MW) wind farms in France for a total amount of approximately €100 million (C$145 million), including €11.2 million in financing for value added tax receivable. This financing is provided by Crédit Industriel et Commercial (\"Groupe Crédit Mutuel\") and BPI France Financement.\n\nThe financing is based on a debt/equity ratio of 80% and consists of a 10-year, €52.4 million tranche at a fixed rate of 0.8% and a 15-year, €37.0 million tranche at a variable rate of about 2.5% over the entire loan term, 90% of which will be covered by an interest rate hedging contract. The average interest rate over the 15-year period will be approximately 1.77%.\n\nLoan disbursement is subject to certain customary conditions, which should be fulfilled soon. \n\nLast, construction has already begun on all the projects and they are expected to be commissioned by the end of 2017, except for the Artois wind farm whose commissioning is slated for the end of the second quarter of 2017.\n\nAbout Boralex\n\nBoralex develops, builds and operates renewable energy power facilities in Canada, France 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 sustained growth by leveraging the expertise and diversification developed over the past 25 years. Boralex's shares and convertible debentures are listed on the Toronto Stock Exchange under the ti...