Boralex plans $80 million term loan

By Sara Rosenberg

New York, Oct. 25 - Boralex Industries Inc. is planning on getting a new $80 million seven-year senior secured term loan (Ba3).

Security is the U.S. hydro assets and U.S. biomass assets of Boralex Industries, as well as certain payments made under the monetization of its U.S. production tax credits, a company news release said.

Proceeds will be used to retire $5 million of existing debt and for general corporate purposes.

The transaction is expected to close by the end of November.

Boralex is a Kinsley Falls, Canada-based green and renewable energy production company.

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