Mr. Speaker, the analyses undertaken by BMO and TD of the Trans Mountain expansion project confirmed that despite the increased cost estimate and completion timeline, the project is financially sound and commercially viable. These analyses are subject to commercial confidentiality.
On April 29, 2022, Trans Mountain Corporation completed third party financing consisting of a $10-billion credit facility with a syndicate of Canadian financial institutions. The financing is supported by a guarantee provided by the Canada Account administered by Export Development Canada.
More information can be found at www.canada.ca/en/department-finance/news/2022/05/update-on-trans-mountain-expansion-project.html.