Samsung and Canadian asset manager Connor, Clark & Lunn Infrastructure have closed a $633m solar bond for a photovoltaic plant in Ontario.
The bond will refinance the existing bank debt and swap facilities for the 100MW Kingston solar park near Kingston, the partners said.
It is one of the largest renewable energy bond financings in Canada to date, they said.
The solar park started operating in September 2015.
Connor, Clark & Lunn Infrastructure and Samsung have together closed over $1bn in solar financings in the Canadian and US bond markets over the last year.
“We are delighted to complete this significant financing,” Connor, Clark & Lunn Infrastructure president Matt O’Brien said.
“Attracting support from a broad base of Canadian and US investors, the financing was a reflection of the scale and quality of the project and the strength of its ownership group.”
Co-investment partners included Régime de rentes du Mouvement Desjardins, CAAT Pension Plan and iA Financial Group, he said.
Image: sxc
Samsung closes $633m solar bond
Issue will refinance existing debt for 100MW Kingston facility in Ontario
By EBS