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Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ will invest up to C$300 million CA by way of an unsecured subordinated loan to Boralex
Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ wil...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nCaisse de dépôt et placement du Québec and Fonds de solidarité FTQ will invest up to C$300 million CA by way of an unsecured subordinated loan to Boralex\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, March 29, 2018\n\n\n\nMONTRÉAL, March 29, 2018 /CNW Telbec/ - Boralex Inc. (TSX: BLX) (\"Boralex\" or the \"Corporation\") announces today the closing of a joint investment of $200 million in the Corporation by way of an unsecured subordinated loan with a term of ten (10) years. The investment is made by Caisse de dépôt et placement du Québec (la « Caisse ») via its subsidiary CDPQ Revenu Fixe Inc. which is investing an amount of $170 million to which is added an investment of $30 million by Fonds de solidarité FTQ (the \"Fonds\"). \n\nThis investment of $200 million (\"Tranche A\") could, under certain conditions, be increased by an amount of $100 million (\"Tranche B\"), which is available for a period of 12 months from the closing date. If Tranche B is drawn, it shall be under the same terms and conditions applicable to the Tranche A, with the only difference being the interest rate which shall reflect the interest rate curve at the moment of disbursement. \n\nTranche A will bear interest at a competitive market rate, payable semi-annually. Under the Loan Agreement, capital is repayable upon maturity on March 29, 2028 subject to certain standard obligations for this type of loan. \n\nAs Boralex announced earlier today that its revolving credit facility has been amended to increase its flexibility, Patrick Lemaire, President and Chief Executive Officer of Boralex, stated: \"Once again, the financial markets continue to show their confidence in Boralex and its growth prospects. We plan on using this increased financial flexibility to support our growth strategy.\"\n\n\"After acquiring a significant stake in Boralex last summer, this financing represents an additional opportunity to support the company's growth in Québec and internationally,\" said Marc Corm...