/THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
LONGUEUIL, QC, Oct. 2, 2019 /CNW Telbec/
- Innergex Renewable Energy Inc. (TSX: INE) ("Innergex"
or the "Corporation") is pleased to announce that it has
issued an additional $18.75 million
aggregate principal amount of convertible unsecured subordinated
debentures (the "Debentures") following the exercise in full
of the over-allotment option granted (the "Over-Allotment
Option") to the underwriters in connection with the Corporation's
previously completed public offering of Debentures (the
"Offering"). The Debentures are bearing interest at a rate of 4.65%
per annum, payable semi-annually, in arrears, on October 31 and April
30 each year, commencing on April 30,
2020. After taking into account the Over-Allotment Option,
the Corporation has raised aggregate gross proceeds of $143.75 million under the Offering.
The Debentures are listed on the Toronto Stock Exchange under
the symbol INE.DB.C.
The Debentures were distributed under a short from prospectus
dated September 18, 2019, which is
available on SEDAR at www.sedar.com. The Offering was underwritten
by a syndicate of underwriters led by TD Securities Inc., CIBC
Capital Markets, BMO Capital Markets and National Bank Financial
Inc.
The Debentures have not been and will not be registered under
the U.S. Securities Act of 1933 or state securities laws.
Accordingly, the Debentures may not be offered or sold in
the United States except pursuant
to applicable exemptions from registration.
About Innergex Renewable Energy Inc.
The
Corporation is an independent renewable power producer which
develops, acquires, owns and operates hydroelectric facilities,
wind farms and solar farms. As a global corporation, Innergex
conducts operations in Canada,
the United States, France and Chile. Innergex manages a large portfolio of
assets currently consisting of interests in 67 operating facilities
with an aggregate net installed capacity of 2,338 MW (gross 3,238
MW), including 37 hydroelectric facilities, 26 wind farms and four
solar farms. Innergex also holds interests in seven projects under
development with a net installed capacity of 546 MW (gross 628 MW),
one of which is currently under construction, and prospective
projects at different stages of development with an aggregate gross
capacity totalling 7,767 MW. Respecting the environment and
balancing the best interests of the host communities, its partners,
and its investors are at the heart of the Corporation's development
strategy. Its approach for building shareholder value is to
generate sustainable cash flows, provide an attractive
risk-adjusted return on invested capital and to distribute a stable
dividend. Innergex Renewable Energy Inc. is rated BBB- by
S&P.
SOURCE Innergex Renewable Energy Inc.