Innergex to Repay Convertible Debentures at Maturity

An announcement from Innergex Renewable Energy ( (TSE:INE) ) is now available.

Innergex Renewable Energy Inc. announced its plan to repay in full its 4.75% convertible unsecured subordinated debentures upon their maturity on June 30, 2025. The repayment will be executed using approximately $151.5 million drawn from its revolving credit facility, and the debentures will be delisted from the Toronto Stock Exchange. This move is part of Innergex’s ongoing strategy to manage its financial obligations and strengthen its position in the renewable energy sector.

The most recent analyst rating on (TSE:INE) stock is a Hold with a C$11.00 price target. To see the full list of analyst forecasts on Innergex Renewable Energy stock, see the TSE:INE Stock Forecast page.

Spark’s Take on TSE:INE Stock

According to Spark, TipRanks’ AI Analyst, TSE:INE is a Neutral.

Innergex Renewable Energy’s stock is positively impacted by recent corporate events, including a major acquisition, which suggests a strong future outlook. Technical indicators show bullish momentum, yet high P/E ratio suggests potential overvaluation, balancing the overall score.

To see Spark’s full report on TSE:INE stock, click here.

More about Innergex Renewable Energy

Innergex Renewable Energy Inc. is an independent renewable power producer that develops, acquires, owns, and operates hydroelectric facilities, wind farms, solar farms, and energy storage facilities. The company operates in Canada, the United States, France, and Chile, managing a portfolio of 91 operating facilities with a net installed capacity of 3,737 MW. Innergex is committed to generating sustainable cash flows and providing attractive risk-adjusted returns on invested capital.

Average Trading Volume: 843,948

Technical Sentiment Signal: Buy

Current Market Cap: C$2.79B

For detailed information about INE stock, go to TipRanks’ Stock Analysis page.