Boralex and Gaz Métro/Valener announce the closing of a C$617.5 million refinancing for Seigneurie de Beaupré Wind Farms 2 and 3

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Boralex and Gaz Métro/Valener announce the closing of a C$617.5 million refinancing for Seigneurie de Beaupré Wind Farms 2 and 3 /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Boralex and Gaz Métro/Valener announce the closing of a C$617.5 million refinancing for Seigneurie de Beaupré Wind Farms 2 and 3 Canada NewsWire MONTRÉAL, May 4, 2016 MONTRÉAL, May 4, 2016 /CNW Telbec/ - Boralex Inc. ("Boralex") (TSX: BLX) (TSX: BLX.DB.A), Gaz Métro Limited Partnership ("Gaz Métro") and Valener Inc. ("Valener ") (TSX: VNR) (TSX: VNR.PR.A) are pleased to announce the closing of a C$617.5 million non-recourse refinancing for Seigneurie de Beaupré Wind Farms 2 and 3 General Partnership ("Wind Farms 2 and 3"), which operates two winds farms located 60 km northeast of Québec City on the private property of Séminaire de Québec. Gaz Métro and Valener indirectly hold interests in Wind Farms 2 and 3 through Beaupré Éole General Partnership. A special distribution to the partners of Wind Farms 2 and 3 of C$80 million has been declared and is expected to be paid shortly after the closing of the refinancing. "We are pleased we were able to conclude the refinancing on such favourable terms. This reflects the vote of confidence the financial community has in our wind farms," said Boralex Vice-President and Chief Financial Officer Jean‑François Thibodeau and Gaz Métro inc. Executive Vice President, Corporate Affairs and Chief Financial Officer Pierre Despars, acting as Gaz Métro's general partner and as manager of Valener. Wind Farms 2 and 3 has been covered by 20-year power purchase agreements with Hydro-Québec since the commissioning of its wind farms. The total refinancing amount of C$617.5 million, consists of: a C$383.4 million uncovered tranche of the term loan expiring in December 2032, representing a C$132.3 million increase over the initial tranche and a one year extension of the maturity date; a C$192.7 million covered tranche of the term loan expiring in December 2029, representing a C$44.5&...

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