Canada Infrastructure Bank’s $100 Million Financing to IonicBlue for Energy Eficiency Projects Across Canada

IonicBlue CleanEnergy Inc., a wholly owned subsidiary of IonicBlue, closed on a $100 million credit facility with the Canada Infrastructure Bank.

IonicBlue is a joint venture between Johnson Controls and funds managed by affiliates of Apollo Global Management, Inc. that provides innovative energy efficiency and decarbonization solutions for commercial buildings globally. The credit facility made available by the CIB will provide financing for the project costs related to detailed design, engineering, implementation, and commissioning of energy efficiency projects. These projects plan to reduce energy consumption and greenhouse gas emissions at sites located in Canada.

The Canada Infrastructure Bank was represented in-house by Ciprian Gligor, Senior Legal Counsel. McMillan LLP acted as outside counsel with a team led by Ahsan Mirza and Alex Ricchetti, assisted by Meagan Moulton.

McMillan’s Project Finance & P3 industry group is made up of lawyers with deep experience in the structuring and execution of major infrastructure projects. We are known for having a collaborative, problem solving approach to closing projects and meeting the requirements and financial objectives of both procurement authorities and private partners. We provide a complete range of services related to infrastructure, including assistance with procurement, construction, financing, environmental review, community consultation, tax and regulatory issues. We have acted on transactions involving all types of public infrastructure arrangements including privatizations, outsourcing arrangements, public-private partnerships, concessions, leases and alternative financing structures. Having acted for parties on all side: lenders, consortia, primary subcontractors and public authorities, we are uniquely positioned to advise and represent all relevant stakeholders.