Capital Markets Capital Markets

Emera Inc. in its US$10.4 billion acquisition of TECO Energy Inc. and $1.9 billion Bought Deal Offering of Convertible Debentures

On September 4, 2015, Emera Inc. (“Emera”), a leading Canadian energy and services company, announced its acquisition of TECO Energy, Inc. (“TECO”), a Florida and New Mexico regulated electric and gas utilities holding company for US$6.5 billion. Under the terms of...

Lead Office: Toronto Date Closed: July 1, 2016 Value: US$10.4 billion + $1.9 billion

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

Emera Inc. in connection with concurrent offerings for $6.2 billion

On June 16, 2016, Canadian energy and services company, Emera Inc., announced the completion of concurrent offerings for $6.2 billion, which included offerings of US$3.25 billion aggregate principal amount of multiple series of Senior Notes, US$1.2 billion 6.75% Hybrid Notes and $500...

Lead Office: Toronto Date Closed: June 16, 2016 Value: $6.2 billion

Osler represents Nordic Trustee ASA for Sterling Resources Norwegian Bond Recapitalization

On May 30, 2016, Sterling Resources Ltd. (“Sterling”) closed a series of recapitalization transactions (the “Recapitalization”) in relation to its wholly-owned subsidiary’s senior secured bonds (the “Bonds”). Pursuant to the Recapitalization, on the...

Lead Office: Calgary Date Closed: May 30, 2016 Value: US$213 million

Dalcor Pharma in its $150 million of Series A and B preferred share financings.

On April 19, 2016, DalCor Pharma UK Ltd. (“DalCor”) announced that it successfully completed a USD$150 million venture financing in order to conduct a 5,000 patient trial of dalcetrapib, a cholesterol drug. DalcCor closed its USD$100 million Series B round this week after...

Lead Office: Montreal Date Closed: April 19, 2016 Value: USD$150 million

Hydro One Limited in its $1.97 billion secondary offering of common shares

On April 14, 2016, Hydro One Limited completed a secondary offering of 72,434,800 of its common shares (“Common Shares”) by the Province of Ontario at a price of $23.65 per Common Share. An additional 10,865,200 Common Shares were sold on April 29, 2016 upon exercise of the...

Lead Office: Toronto Date Closed: April 14, 2016 Value: $1.97 billion

The placement agent in a $100 million private placement by Real Matters Inc.

On April 1, 2016, Real Matters Inc., a leading real estate technology platform, completed a $100 million private placement of common shares. The financing was completed at a valuation of $653 million, and proceeds will be used to bring the company’s proprietary software and field...

Lead Office: Toronto Date Closed: April 1, 2016 Value: $100 million

Blockstream Corporation in its $55 million Series A Financing

On February 2, 2016, Blockstream Corporation announced its $55 million Series A funding to further enhance their sidechain technology, expand operations globally, and support new industry partnerships. Blockstream is the leading provider of blockchain technologies, on the forefront of work in...

Lead Office: Montreal Date Closed: February 2, 2016 Value: $55 million

Canadian Natural Resources Limited in connection with the sale of certain royalty interests to PrairieSky Royalty Ltd for $1.8 billion

Canadian Natural Resources Limited (“CNRL”), has agreed to sell a substantial portion of its royalty assets to PrairieSky Royalty Ltd.  (“PSK”) in a stock and cash deal valued at $1.8 billion. Under the terms of the agreement, CNRL will collect from PSK $680...

Lead Office: Calgary Date Closed: December 16, 2015 Value: $1.8 billion

Hydro One Limited in its $1.83 billion Initial Public Offering

On November 5, 2015, Hydro One Limited, the largest electricity transmission and distribution company in Ontario, announced the closing of its initial public offering by way of secondary sale pursuant to which the Province of Ontario offered 81,100,000 common shares at $20.50 per share for total...

Lead Office: Toronto Date Closed: November 5, 2015 Value: $1.83 Billion