Financial close reached on Hurontario LRT

21 October 2019 - 12:00 am UTC

Infrastructure Ontario (IO) and Metrolinx reached financial close on 21 October with Mobilinx Hurontario General Partnership (Mobilinx) for the Hurontario LRT.

The contract requires Mobilinx, a consortium led by John Laing, to DBFOM the new 18-km (11.2-mile), 19-stop light rail system.

The contract, adjusted for inflation, is valued at CAD 4.6bn (USD 3.5bn) and reflects payments during construction, a substantial completion payment and monthly service payments during the 30-year O&M period.

Financing is comprised of a CDN 487.29m credit facility and CDN 262.8m in senior secured bonds. The deal has an overall capex of CAD 1.4bn.

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