Bank of Montreal (1 Nov 2018 – 31 Oct 2019)

Adoption Date: 15 Sep 2005
Country of Headquarters: Canada
Region of Headquarters: North America
Current EPFI Reporting Year/Period: 1 Nov 2018 - 31 Oct 2019
Institutional Reporting: Link to Report

 

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.

Project Finance Advisory Services

Total number mandated in the reporting period: 1

Sector
Mining
Infrastructure 1
Oil & Gas
Power
Others
Sub-Total 1
Region
Americas 1
Europe, Middle East & Africa
Asia Pacific
Sub-Total 1

Project Finance Transactions

Total number that reached Financial Close in the reporting period: 4

Equator Principles Category A1 B2 C3
Sector
Mining 2
Infrastructure
Oil & Gas 1
Power 1
Others
Region
Americas 2 2
Europe, Middle East & Africa
Asia Pacific
Country Designation
Designated Country4 1 2
Non Designated Country 1
Independent Review
Yes 1 2
No 1
Totals 2 2
1

Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.

2

Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.

3

Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.

4

Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. See list of Designated Countries.

Project-related Refinance & Project-related Acquisition For Project Finance

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)

No. Project Name Sector Country(s) Year of Financial Close
1 Aurelian Ecuador S.A. - Fruta-del-Norte Project Mining Ecuador 2018
2 Compania Minera Teck Quebrada Blanca S.A. - QB2 Project Mining Chile 2019
3 Gray Oak Pipeline LLC Oil & Gas United States 2019
4 Lackawanna Energy Center Power United States 2019

Project-Related Corporate Loans

Total number that reached Financial Close in the reporting period: 0

Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Implementation of the Equator Principles

The Equator Principles (Principles) are an important part of BMO’s evaluation of all: Project Financial Advisory Services where total project capital costs are greater than US$10M; Project Finance with total project capital costs greater than US$10M; Project-Related Corporate Loans where, among other requirements, the total aggregate loan is at least US$100M; and Bridge Loans with a tenor of less than two years that are intended to be refinanced by Project Finance or Project Related Corporate Loans based on the criteria set out in the Principles.

BMO follows a disciplined approach to lending, which requires adherence to internal financing guidelines. Project Finance financing guidelines incorporate both the Principles and sound environmental management practices. The Project Finance financing guidelines require the Principles to be addressed as part of the credit approval process which require final authorization/approval by BMO’s credit risk management group. BMO’s Chief Sustainability Officer provides support and guidance to BMO employees in their application of the Principles.

Further detail is available here.