Canada Infrastructure Bank

Canada Infrastructure Bank in its $407.5 million loan to create additional irrigable acres in Alberta

Client

Canada Infrastructure Bank

Value

$407.5 million

Service

Financial Services

Date Closed

October 2020

Industry

AgriBusiness

Lead Office

Calgary


 

On October 9, 2020, Canada Infrastructure Bank announced its intention to provide $407.5 million in funding to a Special Purpose Vehicle supported by the Province of Alberta and eight Irrigation Districts to create more than 200,000 additional irrigable acres. The funding will be put towards an irrigation project that will build new irrigation infrastructure and increase water storage capacity in southern Alberta. The investment from CIB is part of the Bank’s $10 billion Growth Plan.

Canada Infrastructure Bank specializes in attracting and co-investing with private sector and institutional investors in infrastructure projects that are in the public interest. The Bank has a particular focus on investments in agriculture and is using an innovative financing approach to invest in projects as the sector faces obstacles attracting long term private capital due to the uncertain nature of revenues. CIB’s initial focus will be large-scale irrigation projects in Western Canada.

Osler, Hoskin & Harcourt LLP advised Canada Infrastructure Bank with a team consisting of Dana Saric, Chris Bennett (Financial Services), Frank Turner (Corporate), Sander Duncanson (Regulatory, Environmental, Aboriginal and Land), Paula Olexiuk (Construction and Infrastructure), Shawn Denstedt and Brad Wall (Special Advisors).


Team
Dana Saric
Key Contact

Dana Saric

Partner, Banking and Financial Services

Chris Bennett

Chris Bennett

Partner, Chair of Financial Services Practice

Frank  Turner

Frank Turner

Partner, Corporate

Sander Duncanson

Sander Duncanson

Partner, Regulatory, Environmental, Aboriginal and Land

Paula Olexiuk - Energy and Construction Lawyer

Paula Olexiuk

Partner, Energy

Shawn  Denstedt Q.C.

Shawn Denstedt, QC

Vice Chair, Western Canada

Brad Wall

Brad Wall

Special Advisor