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.