GE Capital is Agent for $228.9 Million Project Financing to Support Greenpac Mill, LLC

MONTREAL, June 27, 2011 /CNW Telbec/ - GE Capital today announced it is administrative agent for a total of $228.9 million in project finance credit facilities to fund the development, construction and operation of Greenpac Mill, LLC, a greenfield recycled linerboard mill by Norampac, a division of Cascades, Inc. (TSX: CAS) and other investors. GE Capital Markets acted as sole lead arranger and sole bookrunner.

Founded in 1964 in Montreal, Canada, Cascades converts, produces and markets packaging and tissue products composed mainly of recycled fibers. Cascades' Greenpac Mill, LLC project will be located in Niagara Falls, NY. Once operational, the mill will use 100 percent recycled fiber input to produce approximately 526 thousand tons of linerboard per year. The building and machinery will be designed for optimal energy efficiency and process water will be treated and reused in order to reduce consumption. The mill will also include numerous technological advances, making it a unique project of its kind in North America.

"GE's in-depth industrial project finance experience and forest products expertise was key because they understood our complex capital requirements and were able to customize financing to match" said Marc-André Dépin, president and chief executive officer of Norampac. "In addition, they provided a significant financial commitment and worked diligently across borders to ensure a seamless execution."

"Industrial project finance is inherently complex and it gives us great satisfaction to extend GE's capital markets, structuring and industry expertise in order to meet customer needs in this space - and to do so from a local point of contact. We're also particularly proud to be involved in this project as it holds an environmentally conscious component that is well aligned with GE values." said Ellis Gaston, managing director of Corporate Finance at GE Capital Canada.

About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. For more information, visit ge.com.

SOURCE GE Capital Canada

For further information:

GE Capital, Corporate Finance
Jeff Wilson
203-749-6340
jeffrey.wilson@ge.com

GE Capital, Norwalk
Ned Reynolds
203-229-5717
ned.reynolds@ge.com

GE Capital, Canada
Marina Brzeski
514-713-5321
marina.brzeski@ge.com

Profil de l'entreprise

GE Capital Canada

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.