Neopost places $86.5 million, €135 million of debt; Boralex gets C$33.4 million financing

Kansas City, Kan., Feb. 22 – Private placement activity on Wednesday included financings by Neopost SA and Boralex Inc.

Neopost raised $86.5 million and €135 million under a Schuldschein German-law private placement, according to a press release.

The transaction, which the company said was well oversubscribed, repays existing lines and extends the maturity of the group's debt.

Of the debt, 20% matures in three years and has a credit margin of 1.1% on euro-denominated debt; 40% matures in five years and has a credit margin of 1.4% on euro-denominated debt; and 40% matures in six years and has a credit margin of 1.55% on euro-denominated debt.

One-third of funds were raised at a fixed-rate and two-thirds at a variable-rate.

Paris-based Neopost is a manufacturer of postage meters and mailroom equipment.

In its deal, Boralex obtained C$33.4 million in financing for its Port Ryerse wind farm in Ontario from DZ Bank AG Deutsche Zentral-Genossenschaftsbank (New York Branch), according to a press release.

The financing consists of a C$2 million letter-of-credit facility and a long-term tranche of C$31.4 million.

The C$31.4 million tranche will be amortized over a period of 18 years beginning Dec. 9, 2016, the date of the project's commercial operation.

The project is a 10 megawatt Port Ryerse wind farm, located on privately owned lands east of the hamlet of Port Ryerse in Norfolk County, Ont.

Boralex is a Kingsey Falls, Quebec, power generating company.

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