Laricina Energy secures $150 mln in debt funding from CPPIB
Laricina Energy Ltd has completed an issue of $150 million in senior secured notes to CPPIB Credit Investments, the debt financing arm of Canada Pension Plan Investment Board (CPPIB). The funding has a four-year term. The Calgary-based energy company, which has been backed with private equity by CPPIB and U.S.-based Lime Rock Partners since 2010, said it intends to pursue additional funding alternatives to advance its Germain and Saleski oil sands projects in Alberta, increase liquidity, and improve financial flexibility. Founded in 2005, Laricina is based in Calgary.
21 March 2014•6 mins read
