Banking and Financial Services Banking and Financial Services

Citizen Hex in its Seed financing round

On May 23, 2017, Citizen Hex announced the closing of its seed-stage financing round, led by Version One Ventures, OMERS Ventures, and Purpose Investments. Citizen Hex will use the proceeds of the round to build a world-class team of smart-contract programmers. Citizen Hex is a...

Lead Office: Toronto Date Closed: May 23, 2017 Value: -

Wealthsimple in its $50 million Series B investment from the Power Financial Corporation group of companies

On May 11, 2017, Wealthsimple announced the completion of its Series B investment of $50 million (US$37 million) from the Power Financial Corporation group of companies, bringing their total investment in Wealthsimple to $100 million (US$74 million) to date. Wealthsimple plans to use the...

Lead Office: Toronto Date Closed: May 11, 2017 Value: $50 million

BMO Capital Markets Corp. in connection with the sale of Milestone Apartments Real Estate Investment Trust to Starwood Capital Group for US$2.85 billion

On April 28, 2017, Milestone Apartments Real Estate Investment Trust ("Milestone") announced the completion of its sale to Starwood Capital Group ("Starwood") for US$2.85 billion. Starwood acquired all of Milestone’s subsidiaries and assets, and Milestone...

Lead Office: Toronto Date Closed: April 28, 2017 Value: US$2.85 billion

The Toronto-Dominion Bank in the sale of its indirect home improvement financing assets to Financeit and Concentra

On September 15, 2016, Financeit announced the acquisition of TD Bank’s indirect home improvement financing assets by Financeit, a leading cloud-based point-of-sale financing platform, and Concentra, a leading wholesale finance and trust solutions provider for Canada’s...

Lead Office: Toronto Date Closed: August 31, 2016 Value: $339 million

Ontario Pension Board in the outsourcing of its investment management operations to a $60 billion new investment management entity, the Investment Management Corporation of Ontario (IMCO)

Osler advised OPB on the outsourcing of its investment management to a new statutory investment management entity known as IMCO, which was created by the Government of Ontario in July 2016. The outsourcing involved the negotiation of comprehensive investment management and...

Lead Office: Toronto Date Closed: July 1, 2016 Value: $60 billion

Manulife in a proposed class action commenced in British Columbia relating to the distribution of mortgage insurance products by Manulife’s wholly-owned subsidiary, Benesure Canada Inc.

Osler represents Manulife in a proposed class action commenced in British Columbia by two representative plaintiffs – Francoise Leonard and Leanne Ranniger. The action relates to the distribution of mortgage insurance products by Manulife’s wholly-owned subsidiary, Benesure...

Lead Office: Toronto Date Closed: -- Value: -

BMO Financial Group in connection with its acquisition of General Electric Capital Corporation’s Transportation Finance Business

On September 10, 2015, BMO Financial Group (“BMO”), Canada’s fourth-largest lender, announced the acquisition of GE Capital's Transportation Finance business in the U.S. and Canada. The proposed transaction will grow BMO’s U.S. commercial banking business. GE...

Lead Office: Toronto Date Closed: December 1, 2015 Value: -

VCSA Holding Corp. in connection with Standard Aero Limited‘s $150 million asset-based revolving credit facility

VCSA Holding Corp. (“VCSA”) recently completed their acquisition, from US Aviation Investment Inc. Limited, the seller, of all of the issued and outstanding capital stock of DAE U.S., Inc., a Delaware corporation (“DAE”), and the refinancing of DAE Aviation Holdings,...

Lead Office: Toronto Date Closed: July 7, 2015 Value: $150 million

The senior lenders in the financing of the City of Calgary Composting Facility P3 Project

Osler acted as counsel to the senior lenders, The Toronto Dominion Bank, Alberta Treasury Branches and Business Development Canada, to a special purpose entity formed by Bird Construction Inc. and Maple Reinders Ltd. in connection with the financing of the City of Calgary Composting...

Lead Office: Toronto Date Closed: June 1, 2015 Value: $143 million

Morgan Stanley Senior Funding, Inc. in its US$475 million First Lien Credit Agreement and US$150 million Second Lien Credit Agreement

On May 14, 2015, WASH Multifamily Acquisition Inc. completed the acquisition of Web Service Holdings Inc. The purchase price was financed under a US$475 million First Lien Credit Agreement and US$150 million Second Lien Credit Agreement (together, the “Credit Facilities”) among WASH...

Lead Office: Toronto Date Closed: May 14, 2015 Value: US $625 million