-- $425 million facility extended with a new five-year term
-- Same terms and conditions, greater flexibility
LONGUEUIL, QC, June 17, 2013 /CNW Telbec/ - Innergex Renewable Energy Inc.
(TSX:INE) ("Innergex" or the "Corporation") has extended its $425 million
revolving term credit facility with a new five-year term ending in 2018.
"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, President and Chief Executive Officer of
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, and includes The
Toronto-Dominion Bank as administrative agent and lender, Bank of Montreal as
syndication 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.
About Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent
renewable power producer. Active since 1990, the Company develops, owns, and
operates run-of-river hydroelectric facilities, wind farms, and solar
photovoltaic farms and carries out its operations in Quebec, Ontario, British
Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i)
interests in 28 operating facilities with an aggregate net installed capacity
of 577MW (gross 1,031MW), including 22 hydroelectric operating facilities,
five wind farms, and one solar photovoltaic farm; (ii) interests in eight
projects under development or under construction with an aggregate net
installed capacity of 265MW (gross 413MW), for which power purchase
agreements have been secured; and (iii) prospective projects with an aggregate
net capacity totaling 2,900 MW (gross 3,125MW). Innergex Renewable Energy
Inc. is rated BBB- by S&P and BB (high) by DBRS (unsolicited rating).
The Corporation's strategy for building shareholder value is to develop or
acquire high-quality facilities generating sustainable cash flows and
providing a high return on invested capital, and to distribute a stable
Forward-Looking Information Disclaimer
This press release contains forward-looking information within the meaning of
securities legislation. All information and statements other than statements
of historical facts contained in this press release are forward-looking
information. Such statements and information may be identified by looking for
words such as "about", "approximately", "may", "believes", "expects", "will",
"intend", "should", "plan", "predict", "potential", "project", "anticipate",
"estimate", "continue" or similar words or the negative thereof or other
The forward-looking information is based on certain key expectations and
assumptions made by Innergex as of the date of this press release, including
estimates, forecasts, and opinions of the Corporation. Although Innergex
believes that the expectations and assumptions on which such forward-looking
information is based are reasonable, undue reliance should not be placed on
the forward-looking information since no assurance can be given that they will
prove to be correct. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. For additional
information with respect to risks and uncertainties, refer to the Annual
Information Form of Innergex filed on SEDAR's website at www.sedar.com. The
forward-looking information contained herein is made as of the date of this
press release and the Corporation does not undertake any obligation to update
or revise any forward-looking information, whether as a result of events or
circumstances occurring after the date hereof, unless required by legislation.
Marie-Josée Privyk, CFA, SIPC Director - Investor Relations 450-928-2550,
ext. 222 firstname.lastname@example.org
SOURCE: INNERGEX RENEWABLE ENERGY INC.
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CO: INNERGEX RENEWABLE ENERGY INC.
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-0- Jun/17/2013 21:04 GMT
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