Boralex Completes Hydroelectric Project Financing

Boralex Inc. completed the long-term financing of the 22 MW Jamie Creek hydroelectric power station located near Gold Bridge, British Columbia, for a total amount of over $55 million, representing approximately 85 per cent of estimated project costs. Construction at the Jamie Creek site is currently underway, with commissioning planned for the first quarter of 2014.

CIT Financial Ltd. acted as agent for the syndicate of lenders, which include Canada Life Assurance Company and Great West Life Assurance Company; Computershare Trust Company of Canada acted as collateral agent.

Boralex Inc. was advised by TD Securities Inc. and was represented in-house by Pascal Hurtubise, director of legal affairs, and Marie-Eve Desjardins, legal counsel; and by a Stikeman Elliott LLP team that included Sterling Dietze, Rachel Hutton, Maxime Turcotte, David Massé, Maxime Jacquin, Elizabeth Labrie and Adam Plotkin.

Blake, Cassels & Graydon LLP acted for the lenders with a team of Sébastien Vilder, Patrick Menda, Angelo Noce, Greg Umbach, Paul Cassidy, Caroline Findlay, Fabien Lanteri-Massa and Gabriel Bastien.