On August 24, 2005, Primary Energy Recycling Corporation (TSX: PRI.UN) completed its C$310 million initial public offering of enhanced income securities (EISs) and C$18.5 million private placement of separate subordinate notes, and entered into a new US$150 million senior credit facility.
The syndicate of underwriters in the public offering was led by RBC Capital Markets and CIBC World Markets as joint bookrunners, and included Scotia Capital, BMO Nesbitt Burns, TD Securities and HSBC Securities. The separate subordinated notes were placed by RBC Capital Markets as agent, and the new US$150 million senior credit facility was arranged by RBC Capital Markets and CIBC World Markets.
Primary Energy Recycling Corporation owns a majority interest in Primary Energy Recycling Holdings LLC, an energy recycling company based in Oak Brook, Illinois. Primary Energy develops, owns and operates industrial facilities for the conversion of waste energy into electric and thermal energy for its host steel mills.