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/R E P E A T -- Boralex announces the largest renewable energy refinancing arrangement in France, totalling $1.7 billion (Euro1.1 billion)/
/R E P E A T -- Boralex announces the largest renewable energy refinancing arrangement in ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\n/R E P E A T -- Boralex announces the largest renewable energy refinancing arrangement in France, totalling $1.7 billion (€1.1 billion)/\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 and LYON, France, Nov. 28, 2019\n\n\n\nMONTRÉAL and LYON, France, Nov. 28, 2019 /CNW Telbec/ - Boralex Inc. (\"Boralex\" or the \"Corporation\") (TSX: BLX) is pleased to announce the closing of agreements to refinance almost all of its wind farm operations in France, for a total of $1.7 billion (€1.1 billion), divided among three credit agreements maturing respectively in 2034, 2036 and 2040. This is the largest refinancing agreement in the renewable energy sector in France and without question the largest refinancing arrangement ever for Boralex. \nThe transaction immediately makes available financial resources totalling more than $178 million (€123 million), achieved primarily by grouping together assets that were previously financed individually through 30 different credit agreements. This amount will be used to reduce Boralex's existing corporate credit facility, resulting in greater capacity to fund the development of future projects across the Corporation. \nIn addition to the amount made available in the corporate credit facility, the financing includes $200 million (€140 million) for the construction of short-term projects. Furthermore, an additional $180 million (€125 million) tranche to finance the construction of future projects should become available in early 2020 once the necessary documents have been finalized. Beyond the benefits stemming from the more favourable market conditions, this new revolving tranche will accelerate the development of Boralex's future projects. When built, these projects will be added to the portfolio of projects benefiting from the terms of the refinancing arrangement.\nTaking advantage of the very good conditions on the European debt market, this refinancing arrangement reduces Boralex's average interest rate for these assets and projects...