Power and Utilities Power and Utilities

Emera Inc. in its bought deal offering of common shares for $700 million

On December 28, 2017, Emera Inc. (“Emera”) announced the completion of its bought deal offering of 14,614,000 common shares at $47.90 per Common Share for aggregate gross proceeds of approximately $700 million. The syndicate of underwriters was led by RBC Capital Markets, CIBC...

Lead Office: Toronto Date Closed: December 28, 2017 Value: $700 million

Henvey Inlet Wind LP in the $1 billion financing and construction of the Henvey Inlet Wind Farm

On December 26, 2017, Henvey Inlet Wind LP announced the completion of a $1 billion financing for the 300 megawatt (MW) Henvey Inlet Wind project located on Henvey Inlet First Nation Reserve No. 2 on the northeast shore of the Georgian Bay in Ontario. This project is the largest wind...

Lead Office: Toronto Date Closed: December 26, 2017 Value: $1 billion

Hydro One Limited in its offering of $1.4 billion 4.00% convertible unsecured subordinated debentures represented by installment receipts.

On August 9, 2017, Hydro One Limited (“Hydro One”) announced that its direct wholly-owned subsidiary, 2582764 Ontario Inc., completed its agreement to sell to a syndicate of underwriters (the “Underwriters”) $1.4 billion aggregate principal amount of 4.00% convertible...

Lead Office: Toronto Date Closed: August 9, 2017 Value: $1.4 billion

Hydro One in its proposed $6.7 billion acquisition of Avista

On July 19, 2017, Hydro One Limited and Avista Corporation announced their merger agreement whereby Hydro One would acquire Avista for $6.7 billion. With combined assets totaling $32.2 billion, this transaction would combine two leaders in the regulated utilities domain to serve customers across...

Lead Office: Toronto Date Closed: -- Value: $6.7 billion

Represented Power Survey and Equipment Ltd. in its Class A2 preferred financing of US$24 million

On June 27, 2017, Power Survey and Equipment Ltd. secured US$24M in its Class A2 preferred financing round. The round was initiated by the company’s majority investor EnerTech Capital and Investissement Québec alongside new investors led by Cycle Capital Management joined by Fonds de...

Lead Office: Montreal Date Closed: June 27, 2017 Value: US$24 million

DSM Venturing in the $2.5 million Series A financing of QD Solar

On February 13, 2017, QD Solar Inc. ("QD Solar") announced that it had secured $2.5 million in a Series A financing. The round was led by Dutch venture capital firm DSM Venturing B.V. ("DSM Venturing") with participation from MaRS Innovation and Saudi Arabia’s...

Lead Office: Toronto Date Closed: February 13, 2017 Value: $2.5 million

Kineticor closed $125 million convertible debt and equity financing commitment from OPTrust and the acquisition of a partially constructed 690 MW cogeneration plant located near Peace River, Alberta from Shell Canada.

Lead Office: Calgary Date Closed: February 13, 2017 Value: $125 million

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

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

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