Atlas’ APR Energy closes $285 million senior secured loan facilities

By Marisa Wong

Los Angeles, March 9 – Atlas Corp. said it closed $285 million senior secured financing on behalf of wholly owned subsidiary APR Energy Ltd.

The financing program consists of pari passu senior secured loan facilities, including a $50 million revolving credit facility, a $135 million term loan facility and a $100 million fixed-rate institutional private placement tranche from funds managed by the global infrastructure debt team at BlackRock.

Citibank NA acted as structuring agent.

The bank syndicate for the revolver and term loan is led by Citi, Export Development Canada, Bank of Montreal and Toronto-Dominion Bank and also includes Canadian Western Bank, HSBC Bank Canada and Bank of America, NA.

Atlas is a Vancouver, B.C.-based global asset manager whose subsidiaries, Hong Kong-based Seaspan and APR, operate in maritime and energy sectors.

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