EverGen (TSX.V: EVGN) (OTCQB: EVGIF), Canada’s renewable natural gas (“RNG”) infrastructure platform, has entered a definitive agreement with existing lenders Roynat Capital (a subsidiary of the Bank of Nova Scotia) and Export Development Canada (EDC). According to the announcement, the agreement outlines the terms for a $31 million syndicated senior term loan, with Roynat and EDC each providing 50% of the proceeds. The company noted that funds will be used to support the upgrade and construction of EverGen’s RNG facilities, to provide $15 million for refinancing of existing debt and construction at Fraser Valley Biogas (“FVB”) and to provide $16 million at Net Zero Waste Abbotsford. EverGen plans to use the first additional draw early this year to finance a portion of its FVB RNG expansion project. The facility is a five-year senior term loan with a 10-year amortization period and interest-only payments for the first 12 months. “This milestone provides greater certainty for EverGen moving forward,” said EverGen CEO Chase Edgelow in the press release. “Executing the debt facility with Roynat and the EDC is an essential piece of our funding strategy as we push forward with our core expansion projects, which will deliver 480,000 GJ of RNG annually.”
To view the full press release, visit https://nnw.fm/Y6hii
About EverGen Infrastructure Corp.
EverGen, Canada’s renewable natural gas infrastructure platform, is combating climate change and helping communities contribute to a sustainable future. EverGen is an established independent renewable energy producer that acquires, develops, builds, owns and operates a portfolio of renewable natural gas, waste-to-energy and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond. For more information about EverGen and its products, visit www.EverGenInfra.com.
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