TC Energy Corporation, the company constructing the Coastal GasLink Pipeline Project is selling up to 75 per cent equity interest in the project.
They are setting aside 10 per cent equity interest for First Nations impacted by the project.
Cheslatta along with 12 other impacted First nations, have established The First Nations Limited Partnership (FNLP) a single purpose entity enabling impacted first nations to collectively participate in the transaction.
FNLP’s financial and debt advisors have advised them based on the results of a detailed market sounding that FNLP will not be able to finance its participation in the Set-Aside or any other aspect of the transaction without credit enhancements and other support from TC Energy.
The Cheslatta First Nation understands that TC Energy has expressed a willingness to modify the Set-Aside to ensure that impacted First Nations can successfully and meaningfully participate in the Transaction.
