Quebec ready to provide $100 million in debentures to Habs investors

MONTREAL – Quebec’s finance minister says the provincial government is willing to provide an unsecured bond to help investors who are interested in buying the Montreal Canadiens.

Raymond Bachand said Monday he has told Jacques Menard, the chairman of BMO Nesbitt Burns, that Quebec is ready to provide a modest amount, “like $100 million of debentures.”

Habs majority owner George Gillett has retained the services of BMO to assess all alternatives regarding a potential sale of the team.

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Bachand stresses that any financial support would have to be available to all Quebec investors interested in acquiring the team.

He also made it clear Quebec would not be a shareholder in the NHL club.

It’s been reported that up to 10 potential buyers have signed confidentiality agreements with BMO to get a look at the franchise’s books.

Bachand made his comments after a news conference where he announced the creation of Teralys Capital Fund, an $825-million technology investment fund.