Banking and Financial Services

Bank of Montreal in its US$16.3 billion acquisition of Bank of the West

On December 20, 2021, Bank of Montreal announced the signing of a definitive agreement with BNP Paribas to acquire Bank of the West for a cash purchase price of US$16.3 billion. On closing, the acquisition will bring nearly 1.8 million customers to BMO and extends its banking presence in key U.S....

Lead Office: Toronto Date Closed: February 1, 2023 Value: US$16.3 billion

The Underwriters in goeasy’s $58 million bought deal offering of common shares

On November 21, 2022, goeasy Ltd., one of Canada’s leading non-prime consumer lenders, closed its bought deal offering of 488,750 common shares with a syndicate of underwriters led by BMO Capital Markets, National Bank Financial Inc. and RBC Capital Markets for aggregate gross...

Lead Office: Toronto Date Closed: November 21, 2022 Value: $58 million

Bank of Montreal in its $1 billion offering of Limited Recourse Capital Notes, Series 3

On September 13, 2022, Bank of Montreal closed its offering of $1 billion aggregate principal amount of 7.325% Limited Recourse Capital Notes, Series 3 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness). The notes bear interest at a rate of 7.325 per cent annually, payable...

Lead Office: Toronto Date Closed: September 13, 2022 Value: $1 billion

Chemtrade Logistics Income Fund in its $86.5 million bought deal equity offering

On August 22, 2022, Chemtrade Logistics Income Fund (“Chemtrade”) completed a public bought deal offering of trust units. The underwriters elected to exercise the over-allotment option in full, resulting in a total of 10,005,000 trust units being issued for gross proceeds of...

Lead Office: Toronto Date Closed: August 22, 2022 Value: $86.5 million

Ratehub in its investment by Novacap

On July 14, 2022, Ratehub Inc. announced its investment by Novacap, a leading North American private equity firm. The partnership will improve Ratehub’s services and assist in solidifying their position in the financial technology industry.Ratehub Inc. is Canada's leading platform...

Lead Office: Toronto Date Closed: July 14, 2022 Value: --

Thin Air Labs in its $20 million initial close of venture capital fund

On June 8, 2022, Thin Air Labs announced it had secured $20 million in the first close of its Thin Air Labs Fund I. The initial close includes $4 million from the Opportunity Calgary Investment Fund (OCIF). With this funding, Thin Air plans to continue raising towards its $100...

Lead Office: Ottawa Date Closed: June 8, 2022 Value: $20 million

Neo Financial Technologies in its $185 million Series C Financing

On May 5, 2022, Neo Financial Technologies announced it had completed its $185 million Series C financing  round led by Valar Ventures with participation from Tribe Capital, Altos Ventures, Blank Ventures, Gaingels, Maple VC and Knollwood Investment Advisory. This round values Neo...

Lead Office: Toronto Date Closed: May 5, 2022 Value: $185 million

First Nations Finance Authority in its $354 million offering of Senior Secured Bonds

On March 2, 2022, the First Nations Finance Authority (“FNFA”) completed its offering of a $354 million aggregate principal amount of 2.85% Senior Secured Bonds, Series 2022-1, due June 1, 2032. The offering was made through an underwriting syndicate comprised of National Bank...

Lead Office: Vancouver Date Closed: March 2, 2022 Value: $354 million

Royal Bank of Canada in its $750 million inaugural institutional Preferred Shares Series BT offering

On November 5, 2021, Royal Bank of Canada completed its inaugural institutional preferred share offering valued at $750 million - the first Canadian bank to complete this type of offering. This offering was the next step in RBC’s Tier 1 capital offerings, following its inaugural $1.75...

Lead Office: Toronto Date Closed: January 21, 2022 Value: $750 million

Canalyst in its US$70 million Series C financing round

Canalyst completed its US$70 million Series C financing round led by Dragoneer Investment Group. Canada Pension Plan Investment Board (CPP Investments) and Alta Fox Capital also participated, along with existing investors HighSage Ventures, Vanedge Capital, and ScaleUP Ventures. This...

Lead Office: Vancouver Date Closed: January 18, 2022 Value: US$70 million