Enercare Connections Closes Green Bond Offering and Credit Facility

Date Closed

May 13, 2020

Lead Office

Toronto

Value

200.00 Million CAD

On May 13, 2020, Enercare Connections Inc. closed the private placement issuance of C$150 million aggregate principal amount of Series 2020-1 senior secured notes, due May 13, 2030 and a C$50 million revolving credit facility with The Bank of Nova Scotia. Enercare Connections is part of Brookfield Infrastructure’s residential energy infrastructure business, Enercare. This offering was completed as a “green bond” issuance forming part of the Brookfield Green Bond Framework as described in Brookfield’s 2019 ESG Report, and is Enercare’s first green bond. The green bonds will support the supply of new electricity sub-metering units for Enercare Connection’s residential customers across Canada and the U.S., as well as capital investment in technology to increase transparency of energy measurement.

McCarthy Tétrault LLP advised Brookfield and Enercare Connections with a team led by Jonathan See and Scott Bergen that included Ian Mak, Mariko Rivers, Andrea Kareclas, Chanelle Bristol, Paulina Bogdanova and Etienne Ravilet-Guzman, Patrick McCay and Kabir Jamal (Tax), George Vegh (Regulatory), Annie Poirier-Simard and Angela Lizotte.

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