Xplore Inc.

Acted for Xplore Inc., a leading provider of high-speed broadband services to Canadians in rural communities, in connection with a comprehensive recapitalization that included more that $1.6 billion of new funding being committed to Xplore’s fibre-to-the-home network roll-out by private debt and equity providers and under federal and provincial government broadband programs. 

A&W Revenue Royalties Income Fund

Acted for A&W Revenue Royalties Income Fund in its strategic combination with A&W Food Services of Canada to create a leading publicly-traded quick-service restaurant company.

Russel Metals Inc.

Acted for Russel Metals Inc. in the establishment of a $600 million credit facility.

TPG

Acted as counsel to TPG in its acquisition (and related financings) from Oxford Property Group of a 75% interest in two Class-A industrial business parks in the Greater Toronto Area valued at C$1.3-billion.

Premium Nickel Resources Limited

Acted for Premium Nickel Resources Ltd. (PNRL) in its C$34-million financing transactions with Cymbria Corporation and EdgePoint Investment Group Inc. The transactions comprised of an equity offering of units, a three year term loan and options to acquire 0.5% net smelter returns royalties on PNRL's Selebi and Selkirk mines.

Copper Mountain Mining Corporation

Acted for Copper Mountain Mining Corporation in its US$439-million all-share acquisition by Hudbay Minerals Inc. by way of a court approved plan of arrangement.

Enerflex Ltd.

Acted as Canadian financing counsel to Enerflex Ltd. in establishing a US$700-million revolving credit facility, a US$150-million term loan and a US$925-million bridge credit facility for its US$735-million business combination with Exterran Corporation to create a premier integrated global provider of energy infrastructure.

Enerflex Ltd.

Acted as Canadian counsel to Enerflex Ltd. in its U.S. and Canadian private placement of US$625-million high-yield senior secured notes.

New Gold Inc.

Acted for New Gold Inc. in the negotiation and establishment of a US$400-million credit facility.

New Gold Inc.

Acted for New Gold Inc. in its US$300-million sale of the existing gold stream held on the Blackwater Project in British Columbia to Wheaton Precious Metals Corp.

Nevada Gold Mines

Acted for Nevada Gold Mines (NGM), the Barrick-Newmont joint venture, in its asset exchange agreement to acquire the remaining 40% of the South Arturo property from i-80 Gold Corp in exchange for NGM's Lone Tree and Buffalo Mountain Properties, and in its conditional up to $50-million private placement in i-80 common shares.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc., Canada's largest rural-focused broadband provider, in the refinancing of its credit facilities pursuant to which a US$995-million term loan and a C$160-million revolving credit facility were made available on a first-lien basis, and a US$200-million term loan was made available on a second-lien basis.

Russel Metals Inc.

Acted for Russel Metals Inc., one of the largest metals distribution companies in North America, in its joint venture with Marubeni-Itochu Tubulars America Inc. whereby each company combined their respective Canadian OCTG/line pipe business into a newly incorporated company, named TriMark Tubulars Ltd.

WeCommerce Holdings Ltd.

Acted for WeCommerce Holdings Ltd. in establishing a US$80-million senior secured credit facility with a syndicate of lenders led by JPMorgan Chase Bank, N.A. to finance its acquisition of Stamped.io Pte. Ltd., a leading Software-as-a-Service (SaaS) platform.

The Pallinghurst Group

Acted for The Pallinghurst Group, a private investor in the global natural resources sector, in its joint 50-50 acquisition with Investissement Québec of Québec-based Nemaska Lithium Inc. pursuant to a sales process under the Companies' Creditors Arrangement Act. The acquisition was structured as a credit bid with Nemaska's largest secured creditor, Orion Mine Finance, and achieved through a reverse vesting order granted by the Superior Court of Québec and upheld by the Québec Court of Appeal.

New Gold Inc.

Acted for New Gold Inc. in its sale of the Blackwater Project in British Columbia to Artemis Gold Inc. for $210-million and an 8% gold stream.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc., Canada's largest rural-focused broadband service provider, in its sale to Stonepeak Infrastructure Partners.

Toromont Industries Ltd.

Acted for Toromont Industries Ltd. in establishing a $250-million unsecured sidecar credit facility with a syndicate of lenders led by CIBC.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with its completed private placement of US$100-million 2.78% guaranteed senior unsecured notes due 2030; and US$100-million 2.88% guaranteed senior unsecured notes due 2032.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in the up to US$430-million sale to Teranga Gold Corporation of a 90% interest in the Massawa gold project in Senegal by a subsidiary of Barrick and its Senegalese joint venture partner.

Enerflex Ltd.

Acted for Enerflex Ltd. in the negotiation and establishment of a $725-million second amended and restated revolving credit facility.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in its U.S. and Canadian private placement of US$75 million in high-yield notes.

Shareholders of MedReleaf Corp.

Advised the shareholders of MedReleaf Corp. in catalyzing the sale of MedReleaf to Aurora Cannabis Inc., bringing together two of Canada's largest cannabis companies, in an all-share transaction valued at approximately $3.2 billion.

Baffinland Iron Mines Corporation and Baffinland Iron Mines LP

Acted as Canadian counsel to Baffinland Iron Mines Corporation and Baffinland Iron Mines LP in their U.S. and Canadian private placement of US$575 million 8.750% senior secured notes, the repurchase and redemption of an existing series of US$350 million senior secured notes, an associated consent solicitation and an amendment and joinder to the existing revolving credit agreement to increase the aggregate of incremental commitments.

Canadian Business Growth Fund

Acted for Canada's leading banks and insurance companies to form the Canadian Business Growth Fund, an independent evergreen fund with a national mandate to provide long-term patient, minority capital to entrepreneurs pursuing growth and expansion strategies.

Enerflex Ltd.

Acted for Enerflex Ltd. in its private placement offerings of US$105 million of 4.67% senior unsecured notes due 2024, US$70 million of 4.87% senior unsecured notes due 2027, $15 million of 4.50% senior unsecured notes due 2024 and $30 million of 4.79% senior unsecured notes due 2027.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in its US$80-million acquisition of the Santa Gertrudis gold project in Mexico from GoGold Resources Inc. In connection with the acquisition, Agnico Eagle provided GoGold with a US$7.5 million term loan, secured by a second ranking charge on all of GoGold's assets, which will be set off against the purchase price at the closing of the acquisition.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in its U.S. and Canadian private placement of US$30 million in high yield notes and its US$30 million incremental secured term loan.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in an auction transaction for the Veladero gold mine in Argentina which resulted in the sale to Shandong Gold of a 50% interest in the mine for US$960 million.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with its completed private placement of US$40-million 4.42% guaranteed senior unsecured notes due 2025; US$100-million 4.64% guaranteed senior unsecured notes due 2027; US$150-million 4.74% guaranteed senior unsecured notes due 2029; and US$10-million 4.89% guaranteed senior unsecured notes due 2032.

GSO Capital Partners LP

Acted for GSO Capital Partners LP and its affiliates in the negotiation and establishment of two credit facilities, and the acquisition of substantially all of the assets of Grafton-Fraser Inc., former owner of Tip Top Tailors and other men's retail chains across Canada, pursuant to the Companies' Creditors Arrangement Act.

Luminus Management, LLC

Acted for Luminus Management, LLC in connection with its $49 million strategic investment in common shares (resulting in a 16.7% aggregate equity interest) and 10% senior secured high yield notes of Delphi Energy Corp. and negotiation of an investor rights agreement with the issuer.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in its U.S. and Canadian private placement of US$230 million in high yield notes, its US$75 million incremental secured term loan, its repurchase and redemption of existing high yield notes and its associated consent solicitation.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in the establishment of its US$1.5-billion commercial paper program.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in connection with its private placement of an aggregate of over $100 million of securities consisting of $51 million of two series of unsecured high yield notes and $53 million of a new class of non-voting, convertible, redeemable preferred shares.

Toromont Industries Ltd.

Acted for Toromont Industries Ltd. in connection with its Canadian private placement of $150 million of senior unsecured notes.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its US$610-million gold and silver streaming agreement with Royal Gold Inc. for production linked to Barrick's 60 percent interest in the Pueblo Viejo mine.

Fortress Investment Group, LLC and Holiday Retirement

Acted for Fortress Investment Group, LLC and Holiday Retirement in connection with the sale of 29 Canadian senior living communities to Ventas, Inc.

Enerflex Ltd.

Acted for Enerflex Ltd. in connection with the negotiation and establishment of a $675-million credit facility for the acquisition of gas compression assets.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in connection with its private offering of debt and equity securities for aggregate proceeds of $148 million.

Noteholders

Acted for a group of noteholders of the approximately $10-billion Master Asset Vehicle II (MAV II), in approving and implementing amendments to the structure of MAV II to provide for periodic optional redemptions of certain notes of MAV II and concurrent proportional unwinds and liquidations of MAV II's liabilities and assets.

Scotia Capital Inc.

Acted for a syndicate of agents co-led by Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc. and TD Securities Inc. in a private placement of $400-million debentures due 2018, $250-million debentures due 2023 and $350 million debentures due 2016 issued by TMX Group Limited.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in establishing its $404 million credit facility.

Bank of America Merrill Lynch, CIBC World Markets and RBC Dominion Securities

Acted as Canadian counsel to Bank of America Merrill Lynch, CIBC World Markets and RBC Dominion Securities as underwriters in connection with an offering of $500 million of 2.3% Maple Bonds issued by Japan Bank for International Cooperation and guaranteed by Japan.

Colossus Minerals Inc.

Acted for Colossus Minerals Inc. in connection with its agreement to sell to Sandstorm Gold Ltd. refined precious metals in an amount equivalent to a portion of the life-of-mine payable platinum, palladium and gold produced from Colossus' 75% owned Serra Pelada Project located in Brazil, in exchange for a US$75-million cash deposit as well as ongoing payments for each ounce of metal delivered.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with its completed private placement of US$100-million 4.87% guaranteed senior unsecured notes due 2022 and US$100-million 5.02% guaranteed senior unsecured notes due 2024.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in negotiating and establishing its $2 billion syndicated credit facility.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in connection with its $125-million private financing.

Holiday Canada ULC and Fortress Investment Group

Acted for Holiday Canada ULC and funds managed by Fortress Investment Group in connection with the refinancing of $620-million of indebtedness secured on real estate assets located across Canada.

Mercantil Colpatria S.A.

Acted as Canadian counsel to Mercantil Colpatria S.A. and its affiliates in connection with the US$1-billion purchase of 51% of Banco Colpatria Red Multibanca Colpatria S.A. by The Bank of Nova Scotia.

Bank of America, N.A.

Acted as Canadian counsel for Bank of America, N.A. and a syndicate of lenders in connection with a US$500-million senior credit facility provided to Research In Motion.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with its amended and restated US$1.2-billion unsecured revolving credit facility that matures June 2016.

Enerflex Ltd.

Acted for Enerflex Ltd. in establishing $465.5 million of financing comprised of a revolving credit facility and multiple bi-lateral letter of credit facilities with a syndicate of banks and the issuance of an aggregate of $90.5 million of unsecured notes in a private placement to institutional investors.

Toromont Industries Ltd.

Acted for Toromont Industries Ltd. in connection with the spin-off of its $1.1-billion natural gas compression business, Enerflex Ltd., to Toromont's shareholders, which is one of the largest demerger transactions completed in Canada in the last ten years.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. (formerly Barrett Xplore Inc.) in connection with the private offering of $230 million of securities, one of the largest Canadian financing telecom projects to be announced in 2011.

Toromont Industries Ltd.

Acted for Toromont Industries Ltd. in connection with its amended and restated revolving credit agreement in an aggregate principal amount of $600 million.

Postmedia Network Inc.

Acted for Postmedia Network Inc. in the acquisition of the publishing business of Canwest LP under a sale proceeding conducted pursuant to the Companies' Creditors Arrangement Act. The assets included the largest publisher of English-language newspapers in Canada as well as an extensive portfolio of digital media and online assets. The aggregate enterprise value of the assets was estimated to be $1.1 billion. Also acted throughout the CCAA proceedings for an Ad Hoc Committee of Noteholders, comprised of 18 investment funds, which held the majority of Canwest LP's outstanding indebtedness and which provided a $250-million equity commitment to permit the acquisition.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with its US$1.2 billion unsecured revolving credit facilities made available by syndicates of domestic and foreign lenders.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with the private placement to institutional investors in the United States and Canada of an aggregate of US$600 million guaranteed senior unsecured notes due 2017, 2020 and 2022.

Industrial and Commercial Bank of China Limited (ICBC)

Acted for Industrial and Commercial Bank of China Limited, a leading global bank headquartered in China, in its acquisition of The Bank of East Asia (Canada), a Canadian chartered bank.

Toromont Industries Ltd.

Acted for Toromont Industries Ltd. in its successful cash and share unsolicited takeover bid to acquire Enerflex Systems Income Fund, resulting in a $684-million supported transaction, and also acted for Toromont in establishing an unsecured $450-million term credit facility with a syndicate of banks to finance the acquisition.

ING Groep N.V.

Acted as Canadian counsel to ING Groep N.V. in the transfer of a portion of the business of the Canadian branch of its subsidiary, ReliaStar Life Insurance Company, to Reinsurance Group of America, Incorporated.

Meridiam Infrastructure, Bouygues Travaux Publics and Transfield Services Ltd.

Acted for the Miami Access Tunnel consortium, comprised of Meridiam Infrastructure, Bouygues Travaux Publics and Transfield Services Ltd. for the design, build, finance, operation and maintenance of the US$1.3 billion greenfield Port of Miami Tunnel project. Davies also acted as lead counsel for the consortium on the financing of the Project, with the senior debt financing of US$340 million being provided through a club of 10 international banks and the subordinated debt financing of US$341 million being provided as a 35-year fixed rate loan by the United States Department of Transportation under the federal TIFIA (Transportation Infrastructure Finance and Innovation Act of 1998) program. This project was awarded the 2009 Global PPP Deal of the Year by Project Finance magazine and the 2009 Americas PPP Deal of the Year by each of Project Finance International and Project Finance magazine.

DBRS Limited

Acted for DBRS Limited in connection with its rating of the new debt obligations issued under the restructuring of $32 billion of non-bank sponsored asset-backed commercial paper.

Anheuser-Busch Companies

Acted as Canadian counsel to Anheuser-Busch on Canadian regulatory matters in respect of its acquisition by InBev in a deal valued at approximately US$50 billion, creating the world's leading global brewer.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its US$1.75-billion underwritten public offering of debt securities, consisting of US$1.40 billion aggregate principal amount of 6.80% senior notes due 2018 and US$350 million aggregate principal amount of 7.50% senior notes due 2038, made in the United States pursuant to the Multi-jurisdictional Disclosure System.

Rogers Communications Inc.

Acted for Rogers Communications Inc. as it entered into a $500-million revolving credit facility with The Bank of Nova Scotia and The Toronto Dominion Bank.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited in connection with the establishment of its $300-million unsecured revolving credit facility.

Dundee Securities Corporation

Acted for Dundee Securities Corporation in connection with the restructuring of approximately $2 billion of short-term debt obligations and contractual obligations of Skeena Capital Trust, a Canadian third-party asset-backed commercial paper conduit. This transaction was the first negotiated restructuring of a Canadian third-party asset-backed commercial paper conduit affected by the August 2007 Canadian asset-backed commercial paper market disruption.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited as it amended its existing credit facility with a syndicate of lenders to increase the amount from US$150 million to US$300 million and the term of the credit facility was extended by two years.

Citigroup Global Markets Inc.

Acted as counsel for a syndicate of banks in the US$2.5-billion credit financing offered to Novelis Inc. and for the initial purchasers in the US$1.4-billion issuance of senior notes, as part of Alcan Inc.'s spin-off of its aluminum rolled products business.

Acquisition Finance 2022: Canada Chapter, co-author, annual

May 26, 2022 - Chambers Global Practice Guides (Chambers and Partners)

The Banking Regulation Review, 7th ed.: Canada Chapter

May 01, 2016 - Containing submissions from authors in 40 countries and territories, The Banking Regulation Review is a comprehensive guide to regulatory banking law around the world. A team of Davies lawyers has contributed the Canada chapter, which provides a thorough overview of the country’s banking...

The Banking Regulation Review, 6th ed.: Canada Chapter

June 08, 2015 - Containing submissions from authors in 48 countries and territories, The Banking Regulation Review is a comprehensive guide to regulatory banking law around the world. A team of Davies lawyers has contributed the Canada chapter, which provides a thorough overview of the country’s banking...