CES Energy Solutions Corp. secures C$750M credit facility from lending syndicate
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
CES Energy Solutions Corp. entered into an amended and restated credit agreement, increasing its Credit Facility to approximately C$750.0 million equivalent. The syndicate, which includes The Toronto-Dominion Bank, Bank of Montreal, ATB Financial, and National Bank of Canada as Joint Bookrunners, is secured by substantially all of the Company’s assets. The facility matures on November 6, 2031.
Why it matters
The expansion of the Credit Facility reflects the increased size and credit profile of CES Energy Solutions Corp. following recent rating agency upgrades. The funding provides ample liquidity to support the Company's growth and potential expansion opportunities.
Who's involved
- companyThe borrower that secured the expanded credit facility
- Bank of MontrealParticipated as a Joint Bookrunner in the credit facility
- Toronto-Dominion BankParticipated as a Joint Bookrunner in the credit facility
- Royal Bank of CanadaParticipated as a syndicate member in the credit facility
- National Bank of CanadaParticipated as a Joint Bookrunner in the credit facility
- Business Development Bank of CanadaParticipated as a syndicate member in the credit facility
- ATB FinancialParticipated as a Joint Bookrunner in the credit facility
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- ATB Financial earns fees as joint bookrunner for CES Energy Solutions CorpATB Financial benefits from participation in CES Energy Solutions Corp. credit facilityAlready happening
- How could the lending syndicate for CES Energy Solutions Corp affect the Business Development Bank of Canada?BDC may gain revenue from participation in CES Energy Solutions Corp credit facilityLikely
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The entities involved
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Bank of Montreal
Canadian investment bank
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Toronto-Dominion Bank
banking and financial services corporation
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Royal Bank of Canada
financial institution in Canada
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National Bank of Canada
commercial bank in Canada
Nothing else this week.
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