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Énergir enters into a new credit agreement and $800 million commercial paper program

July 13, 2022 - Press releases

Montréal, July 13, 2022 – Énergir Inc. announced today that Énergir, L.P. and Énergir Inc., together with their bank syndicate, have entered into a new credit agreement that provides for a $800 million secured revolving credit facility maturing on July 13, 2027 (the “Credit Agreement”). This new credit facility replaces the $800 million credit facility established on March 2, 2012 by Énergir Inc. as borrower and Énergir, L.P., as guarantor.

Énergir, L.P. becomes a borrower under the Credit Agreement; however, Énergir Inc. will also remain a co-borrower under the Credit Agreement for an interim period of a few months. In addition to these changes and the extension of the term, the terms of the Credit Agreement are substantially similar to the terms of the previous agreement. The Credit Agreement has a collateral security backed by the assets of Énergir, L.P.

Concurrently with the implementation of the Credit Agreement, Énergir, L.P. issued an information memorandum for the issuance of short-term promissory notes (also known as commercial paper) in an amount up to $800 million. These promissory notes will be issued based on the financial requirements of Énergir, L.P. and will be supported by the Credit Agreement. The Énergir Inc. promissory notes currently outstanding will also be supported by the Credit Agreement until fully repaid. Énergir Inc. will cease issuing new promissory notes in the near future.

About Énergir Inc. and Énergir, L.P.
Énergir Inc. mainly holds an investment of approximately 71% in Énergir, L.P., for which it acts as the general partner.

With more than $9 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to find increasingly sustainable ways to meet the energy needs of approximately 535,000 customers and the communities it serves. It is the largest natural gas distribution company in Québec, where, through its joint ventures, it also generates electricity from wind power. Through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also offers a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future.

Forward-Looking Statements
This news release contains forward-looking statements, including, but not limited to, statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Readers are cautioned that such information may not be appropriate for other purposes.

For more information:
Catherine Houde
Énergir, L.P.
1 866 598-3449

Investor Relations
Michel Vachon
Énergir, L.P.
514 598-6429

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