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Calgary, Alberta-based Canadian Hydro Developers Inc. has amended its existing credit agreement of C$370.8 million, adding an additional C$312.5 million of unsecured credit facilities and five additional new corporate lenders, for a total of $611.0 million.

Prior to the close, Canadian Hydro's C$370.8 million credit facility consisted of C$233.5 million in the aggregate of construction credit facilities for the Melancthon II Wind Project and certain Blue River Hydroelectric projects, a C$72.3 million acquisition facility for Le Nordais Wind Plant and a revolving operating facility of C$65 million with an existing syndicate of four corporate lenders.

The amended credit facility includes C$233.5 million in the aggregate of construction facilities for Melancthon II and Blue River, a C$292.5 million construction facility for the Wolfe Island Wind Project and an C$85 million operating facility.

The new syndicate of bank lenders includes Toronto-Dominion Bank and the Bank of Nova Scotia as co-lead arrangers and joint book managers, National Bank of Canada as documentation agent, Alberta Treasury Branches, Societe Generale, Sumitomo Mitsui Banking Corp. of Canada, Union Bank of California N.A, Canadian Western Bank and Laurentian Bank.

SOURCE: Canadian Hydro Developers Inc.


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