Markham District Energy secures its 10-year capital plan

Debt Advisory

KPMG Corporate Finance’s Debt Advisory practice acted as financial advisor to Markham District Energy (“MDE” or the “Company”) on the debt financing of its 10-year, $270 million capital plan to fund District Energy capital expenditures to support the Company’s 2050 net-zero carbon objective.

MDE is a thermal energy utility owned by the City of Markham and currently owns and operates two district energy systems serving over 230 customer buildings, totaling more than 12 million square feet.

MDE executed a credit agreement with CIBC for a senior revolving facility up to $135 million and the refinancing of $26 million in existing debt.

Subsequently, MDE reached financial close with the Canada Infrastructure Bank on a junior subordinated credit facility up to $135 million.