CPE News (6/28/2021) – Énergir L.P. has completed a private placement of 5,434,783 new units at a price of $23.00 per unit to Énergir Inc. and Valener Inc., prorated based on each entity’s respective share of units outstanding, for aggregate gross proceeds of approximately $125 million.
This issuance follows three issuances of units carried out on December 1, 2020, January 5, 2021 and on April 1, 2021 to Énergir Inc. and Valener, for a total amount of $325 million at a price of $23.00 per unit, for a total of 14,130,435 units.
Proceeds of this offering will be used to rebalance Énergir L.P.’s capital structure by the repayment of a portion of its secured term credit.
Énergir Inc. and Valener Inc. are wholly owned by Noverco Inc.
Caisse de dépôt et placement du Québec (CDPQ), Fonds de solidarité FTQ, British Columbia Investment Management Corporation (BCI) and Université du Québec Pension Plan, through TRENCAP L.P., owns 61.11% of Noverco while Enbridge Inc. (TSX/NYSE: ENB) owns the remaining 38.89%.
Montréal based Énergir, L.P. is a diversified energy company whose mission is to find increasingly sustainable ways to meet the energy needs of its 530,000 customers and the communities it serves. It is the leading natural gas distribution company in Québec, where it also produces electricity from wind power through its subsidiaries. In the United States, the company operates through its subsidiaries where it produces electricity from hydraulic, wind and solar sources, while serving as the leading electricity distributor and the sole natural gas distributor in Vermont.
photo credit: ÉnergirNews Release
Énergir Inc. Announces an Equity Offering of Energir L.P. of a Total Amount of $ 125 Million by Way of Private Placement
MONTRÉAL, June 28, 2021 /CNW Telbec/ – Énergir Inc., General Partner of Énergir L.P., is pleased to announce that Énergir L.P. completed today an equity offering, by way of private placement, by issuing 5, 434, 783 new units at a price of $23.00 per unit to Énergir Inc. and Valener Inc. (“Valener”), prorated based on each entity’s respective share of units outstanding, for aggregate gross proceeds of approximately $125 million.
This issuance follows three issuances of units carried out on December 1, 2020, January 5, 2021 and on April 1, 2021 to Énergir Inc. and Valener, for a total amount of $325 million at a price of $23.00 per unit, for a total of 14, 130, 435 units.
The proceeds of this offering will be used to rebalance Énergir L.P.’s capital structure by the repayment of a portion of its secured term credit.
About Énergir and Énergir, L.P.
Énergir inc. mainly holds an economic interest of approximately 71% in Énergir L.P., for which it acts as the general partner and a financing vehicle.
With more than $8 billion in assets, Énergir, L.P. is a diversified energy company whose mission is to find increasingly sustainable ways to meet the energy needs of its 530,000 customers and the communities it serves. It is the leading natural gas distribution company in Québec, where it also produces electricity from wind power through its subsidiaries. In the United States, the company operates through its subsidiaries where it produces electricity from hydraulic, wind and solar sources, while serving as the leading electricity distributor and the sole natural gas distributor in Vermont. Énergir L.P. values energy efficiency and invests both resources and efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. It also offers a variety of energy services through its subsidiaries. Énergir L.P. aspires to become the partner of choice for those striving toward a better energy future.
SOURCE Énergir
For further information: Catherine Houde, Énergir, 1-866-598-3449, communications@energir.com
Related Links
https://www.energir.com/