Daily News: November 1, 2017

TD Bank, BMO, Others Upsize Innergex Revolver to $475MM

Innergex Renewable Energy increased its revolving credit facility to $475 million from $425 million. TD Securities and BMO Capital Markets were lead arrangers for the transactions.

Wells Fargo Bank’s Canada Branch joined the syndicate of lenders, which included TD Bank, Bank of Montreal, National Bank of Canada, Canadian Imperial Bank of Commerce, Fédération des caisses Desjardins du Québec and the Bank of Tokyo-Mitsubishi UFJ, Canada Branch. The maturity of the revolver was extended from December 2021 to December 2022. The credit facilities were supported by 13 unencumbered operating assets, allowing Innergex to pursue growth through the development of new projects and acquisitions.

The amended revolver transaction was independent of the recent $700 million financing from two Canadian banks supporting Innergex’s acquisition of Alterra Power.

Innergex Renewable Energy develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms throughout Canada, the U.S. and France.