JPMorgan to Serve as Joint Lead Underwriter of Alberta Refinery

摘要

JPMorgan Chase & Co. will join Royal Bank of Canada and Canadian Imperial Bank of Commerce leading the debt sale to finance a Cdn$8.5-billion (US$7.75-billion) Alberta oil refinery that has the backing of the provincial government. The banks will work as joint-lead underwriters for bonds to finance the Sturgeon upgrader and refinery in Redwater, Alberta, Ian MacGregor, chairman of North West Upgrading Inc., one of the partners in the joint venture, said through spokeswoman Shauna MacDonald. The project is expected to be 80 % financed by debt with the rest coming from equity, so long as the project maintains an investment grade credit rating, North West said in a December 4 statement.