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Northland Power considers green subordinated note placement
By William Gullotti
Buffalo, N.Y., May 31 – Northland Power Inc. may privately offer green subordinated notes, according to a press release on Wednesday.
CIBC Capital Markets and HSBC have been engaged by Northland to evaluate market conditions and determine the optimal timing and terms of a potential offering of green subordinated notes in Canada.
The contemplated placement is aligned with the company’s 2023 funding plan, as outlined at its annual investor day in February, to fund growth projects.
If the offering is completed, the net proceeds will be used to fund investments in eligible green projects under Northland’s green financing framework.
Northland is a power producer based in Toronto.
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