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News Caisse de depot et placement du Québec to pay off McInnis Cement’s debts

Caisse de depot et placement du Québec to pay off McInnis Cement’s debts

Written by Global Cement staff 16 September 2020
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Canada: Public pensions and insurance fund Caisse de depot et placement du Québec (CDPQ) has bought the debt from “all present and future accounts receivable arising from contracts” of McInnis Cement. The Journal de Québec newspaper has reported that the move is intended to benefit the company’s liquidity position. CDPQ first vice-president Michel Nadeau said, “It’s a solution to find cash quickly.”

CDPQ injected US$152m into McInnis Cement on 2 July 2019 as part of a total US$380m private capital refinancing.

Published in Global Cement News
Tagged under
  • Canada
  • Caisse de dépôt et placement du Québec
  • McInnis Cement
  • Debts
  • GCW473
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