Conifex Power completes C$102.7 million financing for British Columbia bioenergy facility
November 29, 2013
102.70 Million CAD
On November 29, 2013, Conifex Power Limited Partnership, a subsidiary of Conifex Timber, completed the C$102.7 million financing for the construction and operation of a 36 megawatt bioenergy power generation facility in Mackenzie, British Columbia.
The credit facility was arranged by Canadian Imperial Bank of Commerce and Export Development Canada, as co-lead arrangers. CIBC was the administrative agent for the lenders, consisting of CIBC and Export Development Canada, Business Development Bank of Canada and Integrated Private Debt Fund IV LP.
Conifex Timber, headquartered in Vancouver, British Columbia, specializes in timber harvesting, reforestation, forest management and the manufacture, sale and distribution of lumber.
Export Development Canada, headquartered in Ottawa, Ontario, is a Crown corporation providing insurance and financial services, bonding products and small business solutions to Canadian exporters and investors and their international buyers.
Business Development Bank of Canada, headquartered in Montréal, Québec, is owned by the Government of Canada and promotes entrepreneurship by providing financing, venture capital and consulting services to entrepreneurs.
McCarthy Tétrault LLP represented CIBC, Export Development Canada and Business Development Bank of Canada, the lenders, with a team led by Stephen Furlan and including Lynn Parsons, Morgan Troke, Stephanie Axmann, Anastassia Chtaneva and Jacob Stone.