Solar Co. Gets $390M In Financing For Canadian Projects

Law360, New York (December 17, 2013, 3:37 PM EST) -- A Sun Life Financial Inc. unit and National Bank Financial Inc. will provide $390 million to help California-based Recurrent Energy build a 108-megawatt portfolio of 10 solar panel developments in Canada, the companies said Tuesday.

Under the terms of the private placement financing, Sun Life Assurance Co. of Canada and National Bank offered the senior secured construction and acquisition term loan facilities, which will be paid at a fixed rate spanning construction and the subsequent 19 years.

The portfolio, dubbed Project Borealis, consists of 10 solar...
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