• The financing structure for this project was unusual because it involved contributions from public and private sources. It is difficult to detail the precise contributions from each party as most of the public funds were invested during the construction period, resulting in an inflation effect. There have also been agreed-upon changes. However, in broad terms, the total project costs of C$1.9 billion (2005) were funded by:
Source of funding | Amount | Percentage |
Concessionaire equity | C$120 million | 6% |
Concessionaire raised senior debt | C$600 million | 32% |
Public funding | C$1,180 million | 62% |
TOTAL | C$1,900 million | 100% |
• The commercial senior debt had a term of 28 years. The debt was underwritten by three international banks and ultimately syndicated to a further 14 international and Canadian banks.