Innergex Renewable Energy Announces Bought-Deal Financing

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Innergex Renewable Energy Inc. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and TD Securities Inc., pursuant to which the underwriters have agreed to purchase, on a bought-deal basis, extendible convertible unsecured subordinated debentures in the aggregate principal amount of C$70 million.

The debentures will have an initial maturity date of April 30, which will automatically be extended to April 30, 2017, upon the closing of the company's previously announced strategic combination with Innergex Power Income Fund.

The company intends to use the net proceeds of the offering to enhance the financial flexibility of Innergex in the context of the combination, reduce existing indebtedness and for general corporate purposes.

SOURCE: Innergex Renewable Energy Inc.

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