PRT Growing Services establishes C$90M green loan financing
June 08, 2021
90.00 Million CAD
On June 8, 2021, PRT Growing Services Ltd (PRT) and Instar Asset Management Inc. (Instar) announced the closing of C$90 million in green loan facilities led by Royal Bank of Canada and HSBC Bank Canada (HSBC), to support PRT's acquisition by Instar and future growth. HSBC acted as Green Loan Coordinator for the financing, which included National Bank of Canada and The Toronto-Dominion Bank.
PRT is one of the first privately-backed companies to join HSBC Canada’s green loan program. HSBC’s green loans support businesses seeking to transition to a more climate-friendly, low carbon future by encouraging investments in projects that provide clear environmental benefits and contribute to sustainable growth.
The PRT Group, through affiliates PRT Growing Services Ltd, PRT USA Inc. and Bionera Resources Inc, is a forest seedling propagator and the largest producer of container-grown forest seedlings in North America.
Instar is an independent alternative management firm focused on North American middle-market opportunities in the infrastructure sector and other alternative real asset categories.
McCarthy Tétrault LLP advised Instar with a team led by Ian Mak that included William Lee (Financial Services). Jake Irwin, Rachel Wasserman (M&A), Sarah Ferguson and Hailey Schenker (Business).