Altus Energy has closed on a secured credit score facility with a principal mortgage quantity of $100 million by an affiliate of Goldman Sachs Asset Administration and CPPIB Credit score Investments III, a subsidiary of Canada Pension Plan Funding Board.
The corporate plans to make use of facility proceeds to help its ongoing enlargement. The ability carries an 8.5% rate of interest and a time period of six years whereas being prepayable with out penalty after three years.
“We’re happy to welcome Goldman Sachs and CPP Investments as companions in Altus Energy, bringing capital that may fund our anticipated development plans in 2024,” says Dustin Weber, CFO of Altus Energy. “This financing capitalizes on our rising money stream era, which has been a defining characteristic of our enterprise mannequin.”
“Our pipeline consists of a beautiful stream of working and growth belongings and, with this environment friendly financing, we’re properly positioned to execute on these alternatives,” provides Altus Energy’s Gregg Felton. “We imagine this new facility positions us to extend our market share whereas offering our counterparties with execution certainty and our shareholders with continued worthwhile development.”
