Conifex Power Completes Financing of Bioenergy Power Project

Conifex Power Limited Partnership (Conifex LP), a subsidiary of Conifex Timber Inc., completed project financing of up to $102.7 million to finance the construction and operation of a 36 megawatt bioenergy power generation facility situated in Mackenzie, British Columbia.

The credit facility was arranged by Canadian Imperial Bank of Commerce (CIBC) and Export Development Canada, as co-lead arrangers, with CIBC also acting as administrative agent for the lenders consisting of CIBC and Export Development Canada, Business Development Bank of Canada (collectively called the bank lenders), and Integrated Private Debt Fund IV L.P. (IPD, and together with the bank lenders known as “the lenders”).

Conifex LP was represented by Sidley Austin LLP with a team including Vanessa Wilson and Pauline Crane; and by Sangra Moller LLP in British Columbia with a team of Kim Moller, Mark Racic, Josh Schmidt and Evan Griffith. Saltbox Partners acted as financial advisor for Conifex LP with a team of Nina Eshoo and Charles-Henry Kurzen.

The bank lenders were represented by McCarthy Tétrault LLP with a team of Stephen Furlan, Lynn Parsons, Morgan Troke and Will Fyfe (finance); Joshua Walters (energy), Stephanie Axmann (Aboriginal), Lisa Vogt and Michael Nienhuis (real estate); Anastassia Chtaneva and Jacob Stone (construction/supply contracts). IPD was represented by Alison Manzer of Cassels Brock & Blackwell LLP.