Caisse, BlackRock close $282 mln financing of McInnis Cement

Investors in Montréal-based cement company McInnis Cement have closed their previously announced financing of about $282 million. The deal included a preferred equity investment of $125 million by the Caisse de dépôt et placement du Québec, a $125 million debenture held by BlackRock Alternative Investors, and an additional $32 million from minority shareholders. The funds raised are being used by McInnis to finish building an industrial cement project in Port-Daniel–Gascons, Québec. The company said nearly 75 percent of the construction has been completed and certain operations have begun.

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