Torys acted as counsel to National Bank, as the administrative agent, and the 9-bank syndicate of lenders in the C$966 refinancing of the 270 MW South Kent Wind Farm in Chatham-Kent, Ontario.
On December 6, 2019, Samsung Renewable Energy, Inc. (“Samsung”) and Pattern Energy Group LP (“Pattern”) sponsored a refinancing of the South Kent wind farm.
National Bank of Canada and Sumitomo Mitsui Trust Bank acted as joint-bookrunners on a C$966 million (US$732 million) 15-year package, which is comprised of a C$903 million term loan and C$63 million in letters of credit.
Associated Bank, Caixa, Crédit Agricole, DZ Bank, KfW IPEX Bank, Korea Development Bank and Siemens Financial also served as coordinating lead arrangers on the refinancing.
Further information on the project can be found on South Kent’s website.
Torys acted as counsel with a team that included Scott Kraag, Milosz Zemanek, Vidushi Hora (project financing), Don Roger and Diana Pegoraro (real estate), Tyson Dyck and Henry Ren (environmental).
Torys also acted on the following in connection with this project: