The credit facility was arranged by Stonebridge Financial Corporation.
Tranche A of the facility for Saint-Philemon totals $56.1m, bears 5.5% fixed-rate interest at a fixed rate of 5.5% and is non-amortizing during the construction period.
Following construction completion, Tranche A will convert to a fully amortizing term loan maturing in May 2034 and bearing interest at the same fixed rate of 5.5%.
Tranche
