Osler has extensive experience advising clients in all industry sectors on project development and finance matters. This involvement in an ongoing flow of projects and exposure to the challenges unique to project finance, in particular determining the optimal finance structure, allows us to help satisfy the borrowers financing needs while adequately protecting the lenders.
We have advised on all aspects of project financing, including:
- Bank, bond, equity, subordinated debt and mezzanine financing including complex combined financing;
- Capital market platforms and bridge financings;
- Assisting in developing the financing structure and bid packages;
- Negotiation and drafting of project finance documentation;
- Project contract review, risk assessment, risk matrix analysis, and other due diligence;
- Securities issues and documentation in connection with bond, private note and equity issues;
- Cross-border issues in connection with issues to foreign lenders and investors;
- Direct agreements between lenders and project participants; and
- Assisting in structuring, presentation and responding to rating agencies.
Representative Work
Electricity
For the borrower:
- York Energy Centre, Brighton Beach Power and East Windsor, Joffre, Cory, Scotford and Muskeg Cogeneration projects.
For the lenders:
- Calgary Energy Centre, Island Cogeneration, AltaLink and Terrawinds, Bear Mountain, Erie Shores andFirelight Infrastructure Partners wind projects.
Transportation
For the borrower:
- Lester B. Pearson Airport, Ottawa International Airport, Prince Rupert Container Terminal and Blue Water Bridge Authority.
For the lenders:
- Highway 407, Confederation Bridge, Montréal-Trudeau Airport, Deh Cho Bridge and Ontario Highway Service Centres.
Oil & Gas
For the borrower:
- Maritimes & Northeast Pipeline, Trans-Northern Pipeline, Hibernia Consortium, Mezzappa Gas Plant andValue Creation Inc.
For the lender:
- Mackenzie Valley Aboriginal Pipeline Group and Husky Terra Nova.
Health
For the borrower:
- Windsor Regional, Victoria, St. Joseph’s and Hamilton General Hospitals.
For the lender:
- Women’s College, Credit Valley and Bridgepoint Hospitals and Runnymede Health Care Centre.