Bank of Montreal, Others Extend Innergex Facility
Innergex Renewable Energy has extended its $425 million revolving term credit facility with a new five-year term ending in 2018. Bank of Montreal served as syndication agent and lender; the Toronto-Dominion Bank as administrative agent and lender; and Canadian Imperial Bank of Commerce, Caisse centrale Desjardins, National Bank of Canada, The Bank of Nova Scotia and Laurentian Bank of Canada also as lenders.
“This credit facility provides us with a flexible instrument to finance our growth. We are very pleased to have successfully extended it with our current syndicate of lenders, and we appreciate their show of confidence in our company,” states Michel Letellier, Innergex president and chief executive officer.
The revolving term credit facility serves in part to finance 13 of the company’s otherwise unencumbered operating facilities, and in part to provide a flexible source of capital to fund the company’s growth. Terms and conditions remain unchanged and usage flexibility is enhanced. The banking syndicate for the facility also remains unchanged.
Innergex Renewable Energy is a Canadian independent renewable power producer.