/THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
MONTRÉAL, Oct. 24, 2019 /CNW
Telbec/ - Boralex Inc. (TSX: BLX) ("Boralex" or the
"Corporation") announced today that is has completed the redemption
of its 4.5% convertible unsecured subordinated debentures (the
"Debentures").
This redemption follows the notice issued by the Corporation on
September 24, 2019 providing for the
redemption of all issued and outstanding Debentures. The
aggregate principal amount of the Debentures outstanding as of
September 24, 2019 was $143,687,000, of which $135,754,000 was converted by holders of
Debentures into 6,938,325 Class A shares of Boralex at a conversion
price of $19.5658 per share.
96,326,017 Class A shares of Boralex are issued and outstanding as
of the date hereof. The remaining $7,933,000 of principal amount of Debentures was
redeemed for cash proceeds equal to the principal amount plus
accrued interest. The payment in cash of the redemption price was
financed through a draw under the Corporation's revolving credit
facility.
The Debentures will be delisted from the Toronto Stock Exchange
at the close of trading today.
About Boralex
Boralex develops, builds and operates renewable energy power
facilities in Canada, France, the United
Kingdom and the United
States. A leader in the Canadian market and France's largest independent producer of
onshore wind power, the Corporation is recognized for its solid
experience in optimizing its asset base in four power generation
types — wind, hydroelectric, thermal and solar. Boralex has ensured
sustained growth by leveraging the expertise and diversification
developed for nearly 30 years. Boralex's shares and convertible
debentures are listed on the Toronto Stock Exchange under the
ticker symbols BLX and BLX.DB.A, respectively. More information is
available at www.boralex.com or www.sedar.com.
Caution Regarding Forward-Looking Statements
Some of the statements contained in this press release are
forward-looking statements based on current expectations, within
the meaning of securities legislation. Boralex would like to point
out that, by their very nature, forward-looking statements involve
risks and uncertainties such that its results or the measures it
adopts could differ materially from those indicated by or
underlying these statements, or could have an impact on the degree
of realization of a particular forward-looking statement. While the
Corporation considers the assumptions on which these
forward-looking statements are based to be reasonable based on
information currently available, they may prove to be
incorrect.
The reader is cautioned not to place undue reliance on such
forward-looking statements. Unless required to do so under
applicable securities legislation, Boralex management does not
assume any obligation to update or revise forward-looking
statements to reflect new information, future events or other
changes.
SOURCE Boralex Inc.