Lion Electric scores C$30m facility from CDPQ and Finalta Capital

Lion Electric Company is a Saint-Jérôme, Quebec-based manufacturer of zero-emission vehicles.

  • Lion Electric creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments
  • The facility’s proceeds will be used to support the company’s growth strategy

Caisse de dépôt et placement du Québec and Finalta Capital have provided a C$30 million credit facility to Lion Electric Company, a Saint-Jérôme, Quebec-based manufacturer of zero-emission vehicles.

Lion Electric creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments. It trades on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “LEV.”

The facility’s proceeds will be used to support Lion Electric’s growth strategy.

“With this first transaction in Lion, CDPQ affirms its desire to support an important player in sustainable mobility in Québec in executing its business plan by providing flexible financing as part of our Capital Solutions strategy,” said Marc Cormier, executive vice president and head of fixed income at CDPQ in a statement. “We are delighted to contribute to funding, put in place with the expertise of Finalta Capital, that is adapted to the Company’s operational reality and highly tailored to its current needs.”

Finalta Capital, a Montreal-based private debt firm, specializes in the financing of tax credits and government grants, .

CDPQ, headquartered in Montreal, invests to generate returns over the long-term on behalf of Quebec public pension and insurance plans. As at June 30, 2022, its net assets totaled C$391.6 billion.