Beyond Banking: Building

Corpfinance International Limited places $54 million of project financing for N-Viro Systems Canada LP

The City of Greater Sudbury's Bio-solids Management Project will leverage innovative, made-in-Canada technology in Canada's first mid-market public-private partnership (P3)

Toronto, ON, July 4, 2013: Corpfinance International Limited (The CFI Group) today announced it has successfully closed on $54 million of debt financing facilities in support of a $63.1 million award granted by the City of Greater Sudbury to N-Viro Systems Canada LP (N-Viro). The award requires N-Viro to design, build, finance and subsequently maintain and operate, for an initial term of 20 years, a new bio-solids management facility located at the City’s main municipal wastewater treatment plant in Sudbury.

The $54 million of debt facilities consists of a combination of 2-year construction and 10-year long-term financing and were provided by several prominent Canadian institutional investors. The CFI Group acted as financial advisor and placement agent for N-Viro.

“We are very proud of this deal” said Kevin Andrews, CEO of The CFI Group. “This is the first mid-market P3 deal of this type in Canada. We were able to partner with N-Viro at every step of the process not only helping them to secure the capital they need to execute this project but providing them with strategic business advice on everything from bid preparation to financing structuring to documentation negotiation. As a result, N-Viro was extraordinarily well placed to offer the City of Greater Sudbury a financially efficient, sustainable, environmentally friendly solution to their wastewater treatment needs.”

N-Viro, a Canadian Company, specializes in converting bio-organic materials into valuable resources. The N-Viro process recovers essential nutrients from bio-organic materials and returns them to the soil. “N-Viro technology is now deployed in seven Canadian cities, and our made-in-Canada solution is now being exported to emerging markets such as India,” said Rob Sampson, President of N-Viro. “Our ability to provide the City of Greater Sudbury with this type of financially viable solution was facilitated by the partnership and support we received from The CFI Group.”

In addition to the financing provided by The CFI Group this project will also receive $11 million in funding from PPP Canada which is a Federal Crown Corporation.