On June 22, 2015, Boralex Inc. (Boralex) completed a public offering of $125,000,000 aggregate principal amount of 4.5 per cent convertible unsecured subordinated debentures due June 30, 2020 (the Debentures), and on June 26, 2015, Boralex completed the exercise of an over-allotment option granted to the Underwriters (as defined below) for an additional $18,750,000 aggregate principal amount of Debentures.
The offering was effected on a bought deal basis by way of a short form prospectus filed in each of the Provinces of Canada.
The Debentures were sold to a syndicate of underwriters led by National Bank Financial Inc. and which included BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., Desjardins Securities Inc., Scotia Capital Inc. and Cormark Securities Inc. (the Underwriters).
Boralex’s in-house legal team on the transaction was led by Sylvain Aird, Vice-President, Boralex Europe, and Chief Legal Officer. Dentons Canada LLP represented Boralex with a team composed of Charles Spector, Giancarlo Salvo and Christine Garon.
Stikeman Elliott LLP represented the syndicate of underwriters with a team comprising Jean Marc Huot, David Massé and Vincent Laurin.