Fort McKay and Mikisew Cree First Nations complete purchase of 49 per cent interest in Suncor's East Tank Farm Development - Seite 2

"As the North American leader in capital raising and advisory services for energy infrastructure projects, RBC Capital Markets is proud to serve as sole agent for this groundbreaking financing transaction," said Mark Saar, North American Head of Project Finance, RBC. "Suncor's industry partnership with the Fort McKay First Nation and Mikisew Cree First Nation is a testament to the collaboration and success that is possible in Canada's energy sector."

"We like the East Tank Farm transaction because of its strong credit and economic fundamentals coupled with the fact that this is a groundbreaking economic transaction between the First Nations and the oil sands industry, in particular with Suncor. The credit fundamentals of the transaction are supported by contracted cash flows that are underpinned by take or pay contracts with strong counterparties. These take or pay contracts eliminate commodity price risk, volume risk and operations and maintenance cost risk," said John Braive, vice-chairman, CIBC Asset Management and ETF Limited Partnership bond holder.

Fort McKay First Nation (FMFN) is composed of over 800 band members with approximately 400 members residing in the hamlet of Fort McKay-a community located approximately 65 km north of Fort McMurray. As a First Nation, FMFN is a leader in working collaboratively with industry, and holds a successful and long established record of strong relationship building with the various mining companies operating adjacent to its land. Fort McKay has aimed to maximize its participation in the economy to create sustainable, long-term growth and development. FMFN believes the practice and preservation of our traditional ways of life can occur simultaneously alongside continuous and responsible oil sands development. This philosophy has allowed the FMFN to enhance our community's social and economic conditions through effective partnerships with industry and government. We are known for our good working relationships with the surrounding oil sands companies. FMFN strives to balance resource development with protecting the health of our community and the environment.