CDPQ, Beaudier invest in $500 mln refinancing of McInnis Cement
Montréal-based cement products company McInnis Cement has closed a $500 million refinancing of its private capital. The deal includes $300 million provided by an increase to McInnis Cement’s senior loan from a syndicate of eleven Canadian and international banks. It also includes a $200 million subordinated loan from Caisse de dépôt et placement du Québec (CDPQ) and Beaudier, an investment arm of the Beaudoin family, the company's main shareholders. The proceeds will be used to support McInnis Cement's growth and repay a bridge loan provided by BlackRock in 2016. CDPQ took a controlling stake in the company in 2016 when a cement project in Québec's Gaspé peninsula experienced cost overruns.
17 July 2019•4 mins read
