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TIDEWATER RENEWABLES LTD. ANNOUNCES COMPLETION OF ITS PREVIOUSLY ANNOUNCED PROPOSED TRANSACTION WITH TIDEWATER MIDSTREAM AND THE REFINANCING OR EXTENSION OF ITS CREDIT FACILITIES
TIDEWATER RENEWABLES LTD. ANNOUNCES COMPLETION OF ITS PREVIOUSLY ANNOUNCED PROPOSED TRANSACTION W...
About this update from Tidewater Renewables Ltd.
[{"type":"text","content":"\n\n\n\n TIDEWATER RENEWABLES LTD. ANNOUNCES COMPLETION OF ITS PREVIOUSLY ANNOUNCED PROPOSED TRANSACTION WITH TIDEWATER MIDSTREAM AND THE REFINANCING OR EXTENSION OF ITS CREDIT FACILITIES\n \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.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Sept. 12, 2024\n \n\n /CNW/ - Tidewater Renewables Ltd. (\"Tidewater Renewables\" or the \"Corporation\") (TSX: LCFS) is pleased to announce that it has completed its previously announced proposed transaction (the \"Transaction\") with Tidewater Midstream and Infrastructure Ltd. (\"Tidewater Midstream\") and has refinanced its first lien credit facilities and extended its second lien credit facilities.\n \n\n\n\n\n\n\n\n\n As part of the Transaction, among other things, the Corporation and Tidewater Midstream have entered into an Assets Sale Agreement, pursuant to which the Corporation has sold its canola co-processing infrastructure, and the fluid catalytic cracking co-processing infrastructure, working interests in various other\n \n Prince George\n \n refinery units, and a natural gas storage facility co-located at Tidewater Midstream's Brazeau River Complex (collectively the \"Divested Assets\") to Tidewater Midstream for cash proceeds of\n \n $122 million\n \n , plus the assumption of certain liabilities relating to the Divested Assets. In addition, as part of the consideration, Tidewater Midstream assigned the right to receive certain British Columbia Low Carbon Fuel Standard (\"BC LCFS\") credits to the Corporation with a minimum value of\n \n $7.7 million\n \n . The cash proceeds for the Divested Assets were used t...