11 Jan Meridian Engages with Morgan Stanley for Davis Refinery Project Financing
Morgan Stanley & Co. LLC is Engaged with CIBC World Markets Corp.
by Meridian Energy Group, Inc. for Davis Refinery Project Financing
Meridian Energy Group, Inc., the leading developer of innovative and environmentally-compliant oil refining facilities, announced today that the Company has engaged Morgan Stanley & Co. LLC (“Morgan Stanley”) on a best-efforts basis, along with CIBC World Markets Corp. (“CIBC”), to assist Meridian in arranging potential financing to complete the design, construction and startup of the Davis Refinery project in Belfield, North Dakota.
Meridian has raised a significant portion of Davis project financing to this point and will continue to do so as Meridian performs additional engineering, procurement and civil construction activities in preparation for the completion of the full project financing later in 2019. Final engineering, procurement and construction of the Davis refinery will commence at that time.
William Prentice, Chairman & CEO of Meridian, commented, “Morgan Stanley is recognized as one of the finest financial institutions in the industry, and we are pleased to have both Morgan Stanley and CIBC assisting the Meridian team on the Davis refinery project.”