La Caisse and Fondaction invest $250 million by way of a subordinated loan to Boralex
MONTREAL, July 07, 2025 (GLOBE NEWSWIRE) -- Boralex Inc. (TSX:BLX) ("Boralex" or the "Company") announces the closing of an additional corporate financing of $250 million by way of an unsecured subordinated loan with a term of 8 years. The investment is made by La Caisse (formerly CDPQ), which is providing an amount of $200 million, to which is added a $50 million investment by a new partner, Fondaction.
Financial Highlights
Structure: unsecured subordinated loan
Amount: $250 million
Maturity Date: June 27, 2033
Interests: payable semi-annually
Repayment: non amortizing loan, payable at maturity date, subject to compliance with obligations associated with this type of loan
"This new corporate financing is in line with the execution of our 2030 Strategy, announced on June 17, and allows us to mobilize resources immediately for the financing of our projects," noted Bruno Guilmette, Executive Vice President and Chief Financial Officer of Boralex. "We are thereby strengthening our ability to support our growth activities, by further diversifying our sources of financing, while maintaining our financial rigor. We would like to thank La Caisse and Fondaction for their confidence in our long-term strategy."
"As a major shareholder since 2017, La Caisse supports Boralex, an independent Canadian leader in renewable energy production, in the development of a diversified portfolio of high-quality projects," said Jérôme Marquis, Managing Director and Head of Private Credit at La Caisse. "By doubling our existing debt financing with this transaction, we reaffirm our confidence in Boralex's execution capacity and continued growth, both in Québec and internationally."
La Caisse recently announced its 2025-2030 climate strategy aimed at accelerating the decarbonization of businesses and increasing its investments related to the energy transition, in order to reach $400 billion in investments in climate action by 2030.
"This impact investment in Boralex supports the development of clean energy infrastructure with tangible and measurable environmental benefits. It reflects Fondaction's commitment to a sustainable economic transformation, aligned with our strategic objectives—both in the fight against climate change and in generating meaningful socioeconomic benefits for Québec," said Claire Bisson, Vice President and Chief Investment Officer, Fondaction.
Desjardins Capital Markets acted as financial advisor to Boralex.
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