Newfoundland and Labrador will borrow $5-billion over 40 years to help finance the Muskrat Falls hydroelectric project, Premier Kathy Dunderdale said Tuesday as she announced that the federal loan guarantee for the development is finalized...

“We are affirming that the Muskrat Falls project is indeed one of the most significant ventures Canada has ever undertaken,” Dunderdale said of the $7.7-billion development, which is under construction....

She said the completion of the loan guarantee will result in more than $1-billion in savings through lower interest rates and enabled the province to secure a $5-billion loan for the project to be repaid over 40 years at an interest rate of 3.8 per cent...

Prime Minister Stephen Harper affirmed the loan guarantee for Muskrat Falls a year ago, requiring that partners in both Nova Scotia and Newfoundland and Labrador remain committed...

http://www.theglobeandmail.com/news/politics/newfoundland-premier-announces-finalized-federal-loan-for-muskrat-falls/article15854740/