LONDON, March 9, 2020 /PRNewswire/ - Atlas Corp.
("Atlas") (NYSE: ATCO) is pleased to announce the closing of its
$285 million senior secured financing
on behalf of its wholly owned subsidiary, APR Energy Ltd. ("APR"),
a global leader in fast-track mobile power solutions. The financing
program (the "Financing Program") consists of pari passu
senior secured loan facilities, including a $50 million revolving credit facility (the
"RCF"), $135 million term loan
facility (the "TLA") and a $100
million fixed rate institutional private placement tranche
from funds managed by the Global Infrastructure Debt team at
BlackRock. Citibank N.A ("Citi") acted as sole structuring
agent.
Ryan Courson, CFO of Atlas,
commented "A core piece of Atlas' strategy is establishing an
optimal capital structure at each of its business segments. APR's
Financing Program combines elements of project finance with typical
corporate debt. This provides APR the flexibility to continue
advancing its position as an industry leader in the delivery of
mobile turnkey power plants, while progressing its portfolio
diversification strategy into longer-term and larger scale
projects."
The bank syndicate for the RCF and TLA is led by Citi; Export
Development Canada; Bank of Montreal; and Toronto-Dominion Bank; and also
includes Canadian Western Bank; HSBC Bank Canada; and Bank of
America, N.A.
About Atlas
Atlas is a leading global asset manager that owns and operates
the businesses in which it invests while focusing on deploying
capital across multiple verticals to create sustainable value and
quality growth opportunities for its shareholders. Atlas'
wholly-owned subsidiaries, Seaspan and APR, are unique,
industry-leading integrated platforms in the global maritime and
energy space respectively. Seaspan is the market leading
containership owner/operator in the sector while APR is the
global leader in mobile power solutions as a lessor and operator.
For more information visit atlascorporation.com.
About APR
APR provides rapidly deployable, large-scale power and
fast-track mobile power to underserved markets and industries.
APR's mobile, turnkey power plants help run cities, countries and
industries around the world in both developed and developing
markets. APR creates unique value through delivering large-scale
power projects anywhere in the world in less time than the typical
2-5 years required to plan, finance, construct and commission a
permanent power plant, and offers customized turnkey solutions
including flexible plant design, fast-track installation, balance
of plant, and decommissioning. For more information, please visit
www.aprenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, including
forward-looking statements regarding APR's ability to advance its
position as an industry leader in the delivery of mobile turnkey
power plants as well as grow and diversify its business into
new areas of focus. Statements that are predictive in nature,
that depend upon or refer to future events or conditions, or that
include words such as "expects", "anticipates", "intends", "plans",
"believes", "estimates", "projects", "forecasts", "will", "may",
"potential", "should", and similar expressions are forward looking
statements. These forward-looking statements reflect management's
current expectations only as of the date of this release. As a
result, you are cautioned not to rely on any forward-looking
statements. Although these statements are based upon assumptions we
believe to be reasonable based upon available information, they are
subject to risks and uncertainties. These risks and uncertainties
include, but are not limited to: challenges in growing and
diversifying APR's business; and other factors detailed from time
to time in our periodic reports and filings with the SEC, including
Atlas's Registration Statement on Form F-4 filed November 22, 2019, as amended, and Reports of
Foreign Private Issuer on Form 6-K filed from time to time
thereafter. We expressly disclaim any obligation to update or
revise any of these forward-looking statements, whether because of
future events, new information, a change in our views or
expectations, or otherwise. We make no prediction or statement
about the performance of any of our securities.
Investor Inquiries:
Bill Stormont
Investor Relations
Atlas Corp.
Tel. +1-604-638-7240
Email: IR@atlascorporation.com
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SOURCE Atlas Corp.