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Energir Inc. Announces an equity offering of energir lp of a total amount of $ 225 million by way of private placement
April 1, 2021 - Press releases
Montreal, April 1st , 2021 – Énergir Inc., General Partner of Énergir LP, is pleased to announce that Énergir LP completed today an equity offering, by way of private placement, by issuing 9,782,609 new units at a price of $23.00 per unit to Énergir Inc. and Valener Inc. (“Valener”), prorated based on each entity's respective share of outstanding units, for aggregate gross proceeds of approximately $225 million.
The proceeds of this offering will be used to rebalance Énergir LP's capital structure by the repayment of a portion of its secured term credit.
About Énergir and Énergir, LP
Energir Inc. mainly holds an economic interest of approximately 71% in Énergir LP, for which it acts as the general partner and a financing vehicle.
With more than $8 billion in assets, Énergir, LP is a diversified energy company whose mission is to find increasingly sustainable ways to meet the energy needs of its 530,000 customers and the communities it serves. It is the leading natural gas distribution company in Quebec, where it also produces electricity from wind power through its subsidiaries. In the United States, the company operates through its subsidiaries where it produces electricity from hydraulic, wind and solar sources, while serving as the leading electricity distributor and the sole natural gas distributor in Vermont.
Énergir LP values energy efficiency and invests both resources and efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. It also offers a variety of energy services through its subsidiaries. Énergir LP aspires to become the partner of choice for those striving toward a better energy future.