Stornoway wraps up PE funding of Renard Diamond Project
Stornoway Diamond Corp (TSX: SWY) has closed its previously announced financing transactions with private equity firm Orion Mine Finance Group, Ressources Québec, an affiliate of Investissement Québec, and the Caisse de dépôt et placement du Québec. Funding will be applied to the construction of the Renard Diamond Project in the James Bay region of north-central Québec. In total, $946 million was committed through a combination of senior and subordinated debt, equity issuances and other facilities. The Montréal-based Stornoway said the deal represents the largest ever project financing package for a publicly listed diamond mining company.
8 July 2014•8 mins read
