TORONTO, ONTARIO — (Marketwired) — 07/15/13 — Integrated Asset Management Corp. (“IAM”) (TSX: IAM) and its private corporate debt group, Integrated Private Debt Corp. (“IPD”), announce the closing on June 13, 2013 of a $25.4 million senior loan to N-Viro Sudbury LP (“N-Viro”). The loan comprises a $13.4 construction only financing and a $12.0 million fixed rate construction and term loan. Laurentian Bank is participating in the IPD loan.
The capital raised by N-Viro will be used to assist with the design and construction of a biosolids management facility to be owned by the City of Sudbury and operated by N-Viro.
N-Viro is owned by N-Viro Systems Canada LP, a private Canadian biosolids management company, specializing in the design, build and operation of Canadian based organics management facilities. The Sudbury facility, when completed, will be operated by N-Viro under a long term agreement with the City of Sudbury.
Philip Robson, President of IPD said “We welcome this opportunity to provide N-Viro with long term fixed rate financing. IPD is pleased to have been invited by N-Viro to assist it with the building of assets on behalf of the City of Sudbury. We are especially pleased to include N-Viro in our portfolio, recognizing it to be one of Canada-s leading designers and operators of waste organics treatment facilities.
IPD manages and provides funding from the $1.1 billion Integrated Private Debt Fund LPs on behalf of a number of Canadian pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, acquisitions, plant expansion or modernization, project financing and management buyouts.
IAM is one of Canada-s leading alternative asset management companies, with approximately $1.9 billion in assets and committed capital under management in private corporate debt, real estate, managed futures, private equity and retail alternative investments.
Contacts:
Integrated Private Debt Corp.
Michael LeClair
Managing Director
416-367-9627
Integrated Private Debt Corp.
Philip S. Robson
President
416-367-3972