On June 14, 2019, Pinnacle Renewable Energy Inc. (“Pinnacle”
) expanded its credit facility to $530 million, pursuant to an amended and restated credit agreement with a syndicate of lenders led by The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Bank of Montreal and Royal Bank of Canada, as co-lead arrangers and The Bank of Nova Scotia, as administrative agent.
Pinnacle expanded its credit facility from $380 million to $530 million, which is now comprised of a $65 million revolving credit facility, a $280 million term facility, and a $185 million delay draw term facility. The maturity date was extended to June 13, 2024.
Pinnacle was represented in-house by Ranj Sangra, General Counsel & Corporate Secretary.
acted as lead counsel to Pinnacle with a team that included Simon Williams and Erin Shin.
acted as British Columbia and US counsel to Pinnacle and was represented by a team that included Michael Mjanes, Caroline Yao, Sam Snider and Kevin Gooch.
Davies Ward Phillips & Vineberg LLP
acted as lead counsel for the lending syndicate with a team that included Joel Scoler and Stuart Berger.