Lower Mattagami Energy Limited Partnership completes C$375 million private placement
On May 14, 2021, Lower Mattagami Energy Limited Partnership (the “Partnership”) issued, by way of private placement, C$375 million aggregate principal amount of 2.433% senior secured bonds, Series 2021-1, due May 14, 2031. The bonds were issued in Canada and sold through a syndicate of agents co-led by CIBC World Markets Inc. and ;BMO Nesbitt Burns Inc., and which included National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., ;HSBC Securities (Canada) Inc. and ;Laurentian Bank Securities Inc.
The Partnership intends to use the net proceeds of the offering to finance or refinance, in part or in full, new and/or existing eligible projects defined in the OPG Green Bond Framework, and to refinance outstanding senior secured bonds of the Partnership at maturity.
The Partnership is a limited partnership between Ontario Power Generation Inc. (OPG), as the sole general partner, and LM Energy Inc., a wholly-owned subsidiary of OPG, as sole limited partner.